Lesha Bank LLC has acquired Bereke Bank JSC in Kazakhstan for approximately USD 134.9 million, aiming to strengthen its investment portfolio and enhance cross-border collaboration.

Target Information

Lesha Bank LLC (Public), commonly referred to as Lesha Bank, has successfully acquired the entire share capital of Bereke Bank JSC, a prominent banking institution in Kazakhstan. The acquisition was formalized through a share sale and purchase agreement signed on 31 March 2024 between Lesha Bank as the purchaser and Baiterek National Management Holding JSC as the seller. The transaction was finalized on 8 October 2024, with an agreed purchase price of 65 billion Kazakh Tenge, equivalent to approximately USD 134,899,552 at completion.

Bereke Bank is a versatile financial institution that provides a range of banking services to both individual and corporate clients across Kazakhstan. With a stable BB financial rating and an extensive branch network comprising 18 locations, Bereke Bank holds a crucial position in the Kazakh banking sector, catering to diverse customer needs through its multifaceted services.

Industry Overview

Kazakhstan's banking industry has seen significant developments in recent years, driven by a growing economy and an increasing demand for financial services. The Central Bank of Kazakhstan has implemented several reforms to enhance the stabili