Qatar’s Lesha Bank bought the former Kazakh subsidiary of Sberbank. Baiterek Holding sold Bereke Bank for 65 billion tenge ($146.2 million). According to the report, the holding company earned more than 30 billion tenge thanks to the agreement with Sberbank.
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The Kazakh state holding Baiterek sold the former subsidiary of Sberbank in Kazakhstan to the Qatari bank Lesha Bank. The transaction amount amounted to 65 billion tenge ($146.2 million at the exchange rate of May 20, 2024), Lesha Bank said in a statement.
Previously, the parties entered into a preliminary purchase and sale agreement, according to which Baiterek had to obtain approval of the transaction from regulatory and supervisory authorities.
In October 2023 it became known that a Qatari investor began evaluating the Kazakh bank Bereke Bank. It was reported that the possible sale of the bank is the most developed scenario so far.
On August 23, 2022, Sberbank announced the sale of its subsidiary in Kazakhstan to the Baiterek holding. The amount of the transaction and its details were not disclosed. In 2023, Baiterek reported that it earned more than 30 billion tenge thanks to the deal with Sberbank.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
