/KASE, February 28, 2024/ – Bereke Bank JSC (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the following:

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On February 26, 2024, Fitch Ratings has placed Bereke Bank JSC's 'BB' Long- Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) on Rating Watch Negative (RWN. The rating action follows the announcement by Qatar- based Lesha Bank LLC (LB) that it has entered into a preliminary agreement with JSC National Management Holding Baiterek (BBB/Stable) regarding the potential acquisition of the bank. The bank's Viability Rating is unaffected by this development.

Ratings:

• Long-Term Foreign- and Local-Currency – 'BB', Rating Watch Negative;
• Short-term Foreign Currency Issuer Default Rating – 'B';
• national long-term rating – 'A+(kaz)', Rating Watch Negative.

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[2024-02-28]