Lesha Bank, the Qatari investment bank that acted as agent in the acquisition of Bereke Bank by Power International Holding (PIH), has reported a significant increase in profit and assets for the first half of 2026, according to infohub.kz.
Net profit attributable to shareholders reached 123.7 million Qatari riyals (QAR), equivalent to approximately 15.9 billion tenge, up 50.1% year-on-year.
Assets under management (AUM) surged 78% to 19.2 billion QAR (about 2.4 trillion tenge). Total investments grew 27.6% to 4.7 billion QAR (roughly 581.4 billion tenge). The bank's total assets stood at 11.1 billion QAR (around 136.1 billion tenge) as of end-June, up 53.9% from a year earlier.
Equity attributable to shareholders rose 11.1% to 1.54 billion QAR (about 190.5 billion tenge). Customer deposits grew 78.8% to 5.6 billion QAR (approximately 692.7 billion tenge).
The bank's income for the first six months of the year totaled 239.1 million QAR (about 29.6 billion tenge), up 105.9% thanks to higher fee and dividend income.
Chief Executive Officer Mohammed Ismail Al Emadi attributed the growth to a diversified investment portfolio. "This resilience was made possible by the discipline of our teams and close work with clients and partners. We apply the same principle in connecting local capital with global markets and international capital with Qatar, focusing on finding and managing quality assets that deliver stable long-term returns," he said.
Lesha Bank holds particular significance for Kazakhstan. Earlier, Bereke Bank disclosed that the Qatari bank acquired its shares in October 2024 not for itself but on behalf of Power International Holding. As a result, the ultimate beneficiaries of Bereke Bank became Qatari entrepreneurs Mutaz Al-Khayat and Ramez Al-Khayat, who own PIH on a parity basis.
The same holding completed the purchase of mobile operator Mobile Telecom-Service, which owns the Tele2 and Altel brands, in early 2025. The deal was worth $1.1 billion.
Beyond telecommunications, Power International Holding's structures are involved in several major projects in Kazakhstan, including the construction of gas processing plants at Kashagan, the second line of the Beineu-Bozoy-Shymkent gas pipeline, and a combined-cycle gas turbine power plant in the Kyzylorda region.
Lesha Bank is an investment bank operating on Islamic finance principles. It is regulated by the Qatar Financial Centre Regulatory Authority (QFCRA) and is listed on the Qatar Stock Exchange under the ticker QFBQ.