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# Lesha Bank Qatar Signs Deal to Acquire 100% of Kazakhstan's Bereke Bank for KZT 65 Billion
- URL: https://www.theglobalbanker.com/lesha-bank-qatar-signs-deal-to-acquire-100-percent-of-kazakhstans-bereke-bank-for-kzt-65/
- Published: 2024-03-31T09:06:00.000Z
- Updated: 2026-10-02T12:54:58.000Z
- Description: Lesha Bank has signed a share purchase agreement for full ownership of Bereke Bank Kazakhstan, from state holding Baiterek, subject to approvals.
- Author: TGB Editorial Team
- Tags: M&A, MENA, Asia-Pacific, #archive

Lesha Bank, the Doha-headquartered Islamic financial institution, signed a share purchase agreement on 31 March 2024 to acquire 100% of Bereke Bank, a commercial bank operating in Kazakhstan, from state-owned Baiterek National Management Holding. The transaction is priced at 65 billion Kazakh Tenge, equivalent to roughly USD 145 million at the exchange rate at signing.

#### BEREKE BANK BACKGROUND

Bereke Bank was formerly Sberbank Kazakhstan, which state holding Baiterek acquired and rebranded in 2022 following the Russian bank's exit from the Kazakh market amid international sanctions.

For Lesha Bank, the acquisition reflects a stated strategic ambition to develop an international presence beyond the Gulf Cooperation Council. 

#### CONDITIONS AND REGULATORY APPROVALS

The share purchase agreement signed on 31 March 2024 was subject to conditions precedent, including Baiterek obtaining the approval needed for the agreement to enter into force and approvals from the competent regulatory and supervisory bodies, before the transaction could be completed. In Kazakhstan, the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, which oversees the country's banking sector, must consent to the proposed change of ownership. 

Once all conditions are satisfied and the acquisition is completed, Lesha Bank would hold a commercial banking licence in Kazakhstan.