Lesha Bank receives permission to buy Bereke Bank

Lesha Bank, a Shariah-compliant bank in Qatar, has received permission to buy Bereke Bank. 

The Qatar stock exchange-listed company will purchase the entity from Kazakhstan government-backed Baiterek Holding, according to a statement issued by the agency of the republic of Kazakhstan for regulation and development of financial market. 

Lesha Bank reported a net profit of 54.1 million Qatari riyals for the first half of 2024, increasing 21% on an annual basis. 

Total income for H1 reached 117.1 million Qatari riyals, growing 28.6% compared to the previous year. Its total assets under management (AUM) reached 6.7 billion Qatari riyals, increasing 12% compared to an year-earlier period.