Baiterek

History

2024

Lesha Bank bought Bereke Bank

In May 2024, Qatar's Lesha Bank announced the purchase of Bereke Bank, a former subsidiary of Sberbank in Kazakhstan. The transaction value is 65 billion tenge ($146 million). The asset was sold by the Kazakhstani state holding Baiterek. Read more here.

Lesha Bank buys bank in Kazakhstan from Baiterek holding

On February 14, 2024, the Qatari investment bank Lesha Bank announced the purchase of a bank in Kazakhstan from the Baiterek holding. The corresponding statement was published on the website of the Qatar Stock Exchange.

The name of the Kazakh bank, which will become the property of Lesha Bank, has not been disclosed. By February 2024, the Baiterek portfolio includes Bereke Bank, Otbasy Bank and the Development Bank of Kazakhstan. The head of the Agency for Regulation and Development of the Financial Market (ARRFR) Madina Abylkasymova previously announced the intention of the Baiterek holding to sell Bereke Bank (a former subsidiary of Russian Sberbank, sold in 2022 after the imposition of sanctions).

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We took him out of the SDN list. Now it has good indicators, capital adequacy is already 10%. Now Baiterek, which is a shareholder of the bank, will begin work on finding investors to sell Bereke Bank shares, Abylkasymova said in March 2023.

Later, in October 2023, Madina Abylkasymova told reporters that Kazakhstan's Bereke Bank could be sold to an investor from Qatar. She did not name the potential buyer. However, according to her, by October 2023, a due diligence (comprehensive business analysis) procedure was carried out on the basis of Sberbank together with a Qatari investor.

The Baiterek holding specified that the main criteria for choosing potential owners of Bereke Bank are based on market principles, taking into account the further preservation of a large bank in the banking ecosystem of Kazakhstan.

Lesha Bank (formerly operating under the Qatar First Bank brand) is the first independent Sharia bank in Qatar. It was created in 2008, offers its services not only in Qatar, but also in world markets with an emphasis on the United States, Europe and the Middle East and North Africa region.^[1]

Chairman of the Board Nurlan Baybazarov appointed Minister of Economy of Kazakhstan

Baybazarov Nurlan Serikovich, previously headed the Industrial Development Fund, a subsidiary of the Development Bank of Kazakhstan, then served as chairman of the board and member of the board of directors of the Baiterek National Managing Holding. In February 2024, he was appointed Minister of National Economy in the Government of Kazakhstan.