The RK Agency for Regulation and Development of the Financial Market has reissued the license for Bereke Bank to conduct banking and other operations as well as activities in the securities market. This occurred on February 27, 2025, according to information published on the Kazakhstan Stock Exchange website.
As explained by the bank itself, the reissuance of the license was necessary due to the change of its legal name to “Bereke Bank (DB Lesha Bank LLC (Public)),” which took place on February 3, following a change of shareholders. “The re-registration will not affect the terms of service and will not alter the interaction process with clients,” the financial institution's press service reported.
It is worth noting that on October 8, 2024, the National Holding Company “Baiterek” completed the sale of Bereke Bank (formerly DB JSC “Sberbank Kazakhstan”) to the Qatari Lesha Bank. The transaction amount was 65 billion tenge, while the balance sheet capital at the time of the deal was 160 billion tenge. Various factors influenced the valuation of Bereke Bank, as explained by “Baiterek,” including significant investments in the bank's IT infrastructure, which the Qatari holding agreed to undertake. It is expected that Lesha Bank will continue to adhere to the current development strategy of Bereke Bank, despite conducting its operations in accordance with Sharia norms (license from the Qatar Financial Center Regulatory Authority dated June 30, 2010, for conducting banking operations).