Lesha Bank completes acquisition of Bereke Bank in Kazakhstan
The share sale and purchase agreement in connection with the transaction was signed on March 31 this year between Lesha Bank, as purchaser, and Kazakhstan-based Baiterek National Management Holding JSC, as seller.
“The transaction was completed on October 8, 2024. The agreed purchase price for the acquisition is 65bn Kazakh Tenge, which corresponds to $134,899,552 based on the exchange rate at the time of completion,” Lesha Bank said on Tuesday.
Bereke Bank is a multipurpose bank, offering services to both individuals and businesses across Kazakhstan. With a BB stable financial rating and a network of 18 branches, it plays a key role in the Kazakh banking landscape.
Mohammed Ismail al-Emadi, CEO, Lesha Bank, commented, “This acquisition marks a strategic step in strengthening our investment portfolio and reinforces the collaborative ties between our countries. It aligns with our long-term vision of fostering cross-border opportunities and expanding in international markets.”
Lesha Bank is the first independent Shariah-compliant Bank authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange.
Related
Team Qatar gears up for UAE faceoff
Kuwait: The Qatari national football team concluded its final training session today ahead of their opening match against the UAE on Saturday, at Jaber
Qatar eyed as ‘guest nation’ for international tech, innovation event
Canadian-Qatari Business Forum executive director Yasser Dhouib
Seeing is believing: Gérôme and Pakistan shows mark 20 years…
Two large-scale exhibitions in Qatar give a foretaste of the curatorial strategy in the Gulf emirate, whose ambitious museum-building programme marks its 20th a
MENA Karting Championship Nations Cup gets underway in Qatar |…
Over 150 competitors to take part, representing 16 nations, in fierce competition across six categories in Qatar The MENA Karting Championsh
