Welcome to our dedicated page for Kaspi kz news (Ticker: KSPI), a resource for investors and traders seeking the latest updates and insights on Kaspi kz stock.
Overview
Kaspi.kz is a comprehensive digital ecosystem that seamlessly integrates digital payments, a robust marketplace, and an innovative fintech platform through its unique two-sided Super App model. At its core, Kaspi.kz delivers technologically advanced services for both consumers and merchants, enabling cashless transactions and digital financial management within Kazakhstan's evolving digital economy. With deep expertise in fintech, mobile payments, and e-commerce, the company has crafted a business model that addresses everyday transactional needs while continuously innovating to enhance user experience.
Business Model and Core Services
The company operates through three interlinked platforms:
- Payments Platform: This segment connects consumers and merchants with an efficient, secure, and cashless digital payments network, allowing for seamless transaction processing and financial interactions.
- Marketplace Platform: Designed to foster a dynamic commercial ecosystem, this platform bridges the gap between sellers and buyers, offering a wide range of products and services that cater to diverse consumer needs. Merchants benefit from increased exposure and sales opportunities, while consumers enjoy a broad selection of offerings.
- Fintech Platform: Focused on digital financial services, this platform empowers users to manage personal finances, access consumer credit, and perform digital deposits with ease through the Kaspi Super App. This integration simplifies financial management by combining everyday banking activities with retail and payment functionalities.
Innovative Super App Ecosystem
The hallmark of Kaspi.kz is its dual Super App model, which serves both consumers and merchants in an interconnected digital environment. The Kaspi.kz Super App provides consumers with a one-stop solution to pay, shop, and manage their finances, while the Kaspi Pay Super App is tailored to support businesses by offering digital payment solutions, merchant value-added services, and advertising solutions. This model not only enhances transaction volumes but also deepens user engagement, distinguishing Kaspi.kz from other digital service providers.
Market Position and Industry Significance
Kaspi.kz occupies a pivotal position in Kazakhstan’s digital transformation, acting as a catalyst in the nation’s shift towards a modern, cashless economy. Its operational model leverages technological infrastructure and data-driven insights to optimize user experience and operational efficiency. The company’s focus on delivering digitally integrated products and services makes it a reference point in the region for both traditional financial institutions and emerging digital marketplaces.
Technological Innovation and User Engagement
Innovation is embedded in Kaspi.kz’s strategy. The company continuously enhances its platform capabilities through product innovation, sophisticated payment networks, and real-time data analytics. Its commitment to integrating diverse financial services into one ecosystem underlines its dedication to meeting evolving user needs and remaining agile in a competitive digital landscape.
Operational Excellence and Regulatory Compliance
Kaspi.kz’s business operations are underpinned by rigorous adherence to financial, security, and regulatory standards. The company employs comprehensive policies to ensure compliance with national financial regulations and maintains robust KYC procedures to safeguard the integrity of its ecosystems. This disciplined approach reinforces trust among users and stakeholders alike, underpinning its reputation for operational excellence.
Competitive Landscape and Value Proposition
While the digital payment and marketplace sectors are competitive, Kaspi.kz differentiates itself with a vertically integrated business model that promotes efficiency and user loyalty. Its strategic investment in innovative technologies, combined with a profound understanding of local market dynamics, allows it to position itself as an indispensable service provider in Kazakhstan. By continually evolving its product offerings and enhancing platform connectivity, Kaspi.kz secures its competitive edge and cemented market relevance.
Conclusion
Kaspi.kz stands out as a digital ecosystem that integrates payment, marketplace, and fintech solutions into a single, user-friendly Super App. Its well-architected business model and commitment to technological innovation and regulatory compliance make it a key player in Kazakhstan's digital economy. Designed to meet the evolving needs of both consumers and businesses, Kaspi.kz continues to expand and refine its services, setting a benchmark in the digital transformative journey of the region.
Kaspi.kz (NASDAQ: KSPI) held its Annual General Meeting on March 28, 2025, where several key resolutions were approved. The company's shareholders passed resolutions including the approval of 2024 annual audited financial statements and decided not to distribute additional dividends for 2024, considering previously paid quarterly dividends.
Other approved items included taking note of shareholder appeals regarding company and officer actions in 2024, and the reappointment of Deloitte LLP as the external auditor for the company's 2025 financial statements.
Kaspi.kz (NASDAQ: KSPI) has entered into a share purchase agreement to acquire Rabobank A.Ş., the Turkish subsidiary of Rabobank Group. The target is a fully licensed bank in Turkiye, currently operating without borrowing or depositing clients and lacking a branch network. The transaction, described as non-material, remains subject to regulatory approvals and customary closing conditions.
Kaspi.kz (NASDAQ: KSPI) has successfully priced a $650 million offering of senior unsecured Notes due 2030, marking the largest ever investment grade bond issuance by a non-sovereign from Kazakhstan. The Notes, carrying a 6.250% interest rate payable semi-annually, were priced on March 18, 2025, with settlement expected on March 26, 2025.
The Notes will be offered exclusively to qualified institutional buyers in the US under Rule 144A and internationally under Regulation S. Interest payments will commence from September 26, 2025. The company plans to utilize the net proceeds for general corporate purposes.
Kaspi.kz (NASDAQ: KSPI) has announced the filing of its Annual Report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission (SEC). The report has been made publicly accessible through two channels: the company's investor relations website at https://ir.kaspi.kz/financial-information/ and the SEC's official website at www.sec.gov.
Kaspi.kz (KSPI) has received an investment grade Baa3 rating with stable outlook from Moody's, marking its second international credit rating following Fitch's BBB- rating in H2 2024. The rating reflects Kaspi.kz's:
- Diverse business profile and leading nationwide franchise
- Super App business model combining payments, commerce, and fintech
- Stellar profitability exceeding 40%
- Sound financials including capitalization and liquidity
- Low leverage structure, primarily consisting of Kaspi Bank deposit liabilities
This rating is independent of Kaspi Bank's existing ratings and comes as the company prepares for expansion into Türkiye through Hepsiburada.
Kaspi.kz (KSPI) has announced its Annual General Meeting of Shareholders scheduled for March 28, 2025 at 10:00 Astana time in Almaty, Kazakhstan. A backup date of March 31, 2025, is set if quorum isn't met.
The agenda includes approval of 2024 annual audited financial statements, distribution of net income, and dividend considerations. The Board recommends no additional dividend payments for 2024, considering previously paid quarterly dividends. The Board also recommends renewing Deloitte LLP as external auditor for another 12 months.
Shareholders eligible to participate will be determined based on the register as of February 21, 2025.
Kaspi.kz (NASDAQ:KSPI) reported strong financial results for Q4 and FY 2024. The company achieved 25% year-over-year net income growth and 32% revenue growth in FY 2024, meeting initial guidance. The Marketplace platform showed exceptional performance with GMV up 44% in FY 2024, driven by e-Commerce growth of 85%. Payments and Marketplace platforms contributed 69% of FY 2024 consolidated net income.
Key highlights include: Kaspi Delivery orders increased 128% YoY to 99 million in FY 2024, e-Commerce Take Rate improved to 11.3%, and e-Grocery GMV grew 97%. The Fintech Platform saw TFV growth of 30% in FY 2024, with Merchant & Micro Business Finance reaching 17% of TFV. The company completed the acquisition of 65.41% of Hepsiburada in January 2025 for an initial payment of $600 million, with $526.9 million due within 6 months.
Looking ahead, Kaspi.kz projects approximately 20% YoY consolidated net income growth for 2025, excluding impact from Turkish operations.
Kaspi.kz (NASDAQ: KSPI) has completed its acquisition of a controlling interest in Hepsiburada (NASDAQ: HEPS), acquiring 40,000,000 Class A and 173,246,220 Class B shares, representing 65.41% of Hepsiburada's total outstanding share capital. The transaction, valued at approximately $1.127 billion, includes $600 million paid in cash at closing and $526.9 million in deferred consideration payable within six months.
The acquisition expands Kaspi.kz's addressable market to 100 million people. Both companies will maintain distinct brands and operating structures. The deal received all necessary regulatory approvals, including from Turkish authorities. As collateral for the deferred payment, Kaspi.kz has pledged 65,199,658 Class B Hepsiburada shares to the sellers.
Kaspi.kz (KSPI) has scheduled the announcement of its fourth quarter and full year 2024 financial results for Monday, February 24, 2025. The company's management will host a conference call and webcast at 8:00 AM EST (1:00 PM GMT, 6:00 PM Astana time) to discuss the period's performance. Interested participants can pre-register for the call through the provided online link, after which they will receive access details via email.
Kaspi.kz (KSPI) held an Extraordinary General Meeting on November 19, 2024, where shareholders approved several key resolutions. The company declared a dividend of KZT 850 per common share for Q3 2024, with payments starting November 19, 2024. The meeting also approved an amended company charter and elected Zurab Nikvashvili as an independent board member, replacing Nikolay Zinovyev. Notably, shareholders approved a major transaction to acquire 40 million Class A shares and 173.2 million Class B shares of D-Market Elektronik Hizmetler ve Ticaret A.Ş. (Turkey), including authorization to pledge these shares to secure the company's obligations.
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