Sold: Qatari Lesha Bank Completes Purchasing of Bereke Bank

The National Holding Baiterek and Lesha Bank have completed the deal to sell Bereke Bank. The parties have all the necessary approvals from Kazakhstani regulators.

The deal received the approval of the Agency for Regulation and Development of the Financial Market (ARFMR), issued in August for Lesha Bank to receive the status of a full-service commercial bank, and permission to acquire Bereke Bank, the holding reported.

The purchase concerns selling 100% of Bereke Bank JSC's shares to the Qatari bank.

With the arrival of a new shareholder, increased competition among second-tier banks, the introduction of new technologies and the development of lending to the real sector of the economy are expected, Baiterek added. 

Original Author: Nikita Drobny