Joint Stock Company Kaspi.kz American Depository Shares - KSPI STOCK NEWS

Welcome to our dedicated page for Joint Stock Company Kaspi.kz American Depository Shares news (Ticker: KSPI), a resource for investors and traders seeking the latest updates and insights on Joint Stock Company Kaspi.kz American Depository Shares stock.

Joint Stock Company Kaspi.kz (symbol: KSPI) is a pivotal force in Kazakhstan's payment, marketplace, and Fintech ecosystem. Known for its Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants, the company offers an array of interconnected, technologically seamless products and services that facilitate cashless payments, online shopping, and financial management.

Core Business: Kaspi.kz operates through three main platforms:

• Payments Platform: This platform connects consumers and merchants, enabling cashless, digital transactions. The platform has demonstrated substantial profitability, with a 55% net income growth in FY 2023.
• Marketplace Platform: It links merchants and consumers, boosting sales and offering a wide range of products and services. The platform's GMV and revenue grew significantly, with e-Commerce GMV up 53% year-over-year in FY 2023.
• Fintech Platform: This enables customers to manage their finances online, offering consumer finance and deposit products. Notably, the platform's TFV grew by 47% YoY in FY 2023.

Recent Achievements:

The company posted strong financial results for 4Q 2023 and FY 2023, with consolidated revenue and net income up 51% and 44% YoY, respectively. The Kaspi.kz Super App's user engagement reached 65%, among the highest globally for any major mobile app. Additionally, Kaspi.kz's e-Grocery segment showed remarkable growth, with GMV up 3.5x YoY in FY 2023.

Current Projects:

• Kaspi Postomats: The company rolled out 5,943 postomats, accounting for 39% of deliveries, with plans to expand to around 7,000 by the end of 2024.
• e-Grocery Expansion: The company plans to scale up in Almaty and Astana and launch its first dark store in Shymkent by 2024.
• Kaspi Travel and Kaspi Tours: These initiatives have shown rapid growth, with Travel GMV up 42% YoY and Tours accounting for 5% of Travel's GMV by 4Q 2023.

Kazakhstan's rapidly expanding e-Commerce market positions Kaspi.kz as a market leader, enabling fast and profitable growth. The company's focus remains on delivering value-added services and expanding its innovative offerings to both consumers and merchants.

Financial Position:

Kaspi.kz's financial condition is robust, with strong revenue and net income growth. The Board of Directors has proposed dividends and continued its ADS buyback program. In light of its successful US listing on Nasdaq in January 2024, the company aims to further enhance trading liquidity and capitalize on new growth opportunities.

This overview provides a comprehensive understanding of Kaspi.kz's operations, highlighting its significant contributions to Kazakhstan's digital economy.