Bereke Bank’s sale to Qatar's Lesha Bank to close by end of July

Bereke Bank’s sale to Qatar's Lesha Bank to close by end of July
Photo credit: Bereke Bank

According to Vice-Chairman of the Agency of the Republic of Kazakhstan for regulation and development of the financial market, Olzhas Kizatov, the sale of Bereke Bank to Qatar's Lesha Bank is expected to be completed by the end of July this year, Kazinform News Agency reports.

At the Central Communication Service (CCS) platform, Mr. Kizatov added that in terms of the procedural aspects of the matter, it is anticipated that the transaction will be completed by the end of June or at the beginning of July. The Qatari investors is expected to provide a package of registration documents to obtain the status of a bank holding company. Following the receipt of the aforementioned documentation, a decision will be made regarding the granting of the status of bank holding company to Lesha Bank.
Recall, the Qatar’s Lesha Bank purchased Bereke Bank from National Management Holding "Baiterek" (Baiterek NMH JSC). The agreement was reached on 31 March 2024. The transaction amount was 65 billion tenge.
First Deputy Chairman of the Board of Baiterek NMH JSC, Nurbolat Aidapkelov, noted the profitability of Bereke Bank’s sale.
In the event of a successful transaction, the funds will be directed to the National Fund.

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