Doha, October 09 (QNA) - Lesha Bank LLC has successfully completed the acquisition of the entire share capital of "Bereke Bank" JSC in Kazakhstan.

According to a release issued by the Bank and published on the Qatar Stock Exchange website, the share sale and purchase agreement in connection with the transaction was signed on 31 March 2024 between Lesha Bank, as purchaser, and Kazakhstan-based "Baiterek" National Management Holding JSC, as seller. The transaction completed on 8 October 2024. The agreed purchase price for the acquisition is 65 billion Kazakh Tenge, which corresponds to USD 134,899,552 based on the exchange rate at the time of completion.

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.

CEO of Lesha Bank, Mohammed Ismail Al Emadi 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 LLC (Public) is the first independent Sharia-compliant Bank authorized by the Qatar Financial Centre Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange. (QNA)