Baiterek Holding, Lesha Bank complete Bereke Bank sale

Baiterek National Management Holding and Lesha Bank LLC (Public) have finalized the sale of 100% of Bereke Bank’s shares. All parties fully agreed upon the transaction terms, and the deal received necessary approvals from Kazakhstan's regulatory authorities. This includes the consent from the Agency for Regulation and Development of the Financial Market (ARFMR), granted in August, which allows Lesha Bank to acquire Bereke Bank and be recognized as a banking holding company.

Bereke Bank, one of the largest banks in Kazakhstan, will continue to honor all obligations to its clients. The bank will maintain its current product offerings for existing clients and continue operations as a commercial universal bank. Bereke Bank is demonstrating stable growth while meeting the regulatory requirements for capital adequacy and liquidity. Following the change in ownership, the bank plans to further solidify its market position.

With the new shareholder in place, competition among second-tier banks is expected to increase, driven by the introduction of new technologies and the expansion of lending to key sectors of the economy. Baiterek Holding’s goal of stabilizing the bank’s operations and attracting a strategic investor has now been achieved through this transaction, marking an important milestone for Kazakhstan’s financial sector.

Lesha Bank, listed on the Qatar Stock Exchange (QSE: QFBQ), is licensed by the Qatar Financial Center Regulatory Authority to conduct banking operations. It specializes in investment banking and asset management, providing services across Qatar, the USA, Europe, and the Middle East. The acquisition of Bereke Bank represents a key step in strengthening economic cooperation between Kazakhstan and Qatar, reflecting Qatar's long-term investment interests in Kazakhstan.