Lesha Bank completes acquisition of Bereke Bank in Kazakhstan

Posted by Admin October 8, 2024 World

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Lesha Bank has successfully completed the acquisition of the entire share capital 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.