Kaspi.kz receives regulatory approval to acquire Rabobank A.Ş. in Türkiye

Kaspi.kz (Nasdaq: KSPI) received regulatory approval from Türkiye’s Banking Regulation and Supervision Agency (BDDK) to acquire Rabobank A.Ş., a fully licensed Turkish bank.

Rhea-AI Summary

Kaspi.kz (Nasdaq: KSPI) received regulatory approval from Türkiye’s Banking Regulation and Supervision Agency (BDDK) to acquire Rabobank A.Ş., a fully licensed Turkish bank.

The acquisition is expected to close in July 2026, subject to customary conditions, supporting Kaspi.kz’s expansion and fintech-driven growth strategy in Türkiye.

Positive

• Regulatory approval from BDDK for acquisition of Rabobank A.Ş. in Türkiye
• Acquisition provides entry to a fully licensed bank in the Turkish market
• Expected transaction closing in July 2026, subject to customary conditions

Negative

• None.

Argus Jun 24 session

+2.75% close to close Open Argus

Details

News Market Reaction – KSPI

In the Jun 24 session, KSPI gained 2.75%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement confirms BDDK approval for Kaspi.kz’s Rabobank A.Ş. purchase, progressing its Turk...

Analysis

This announcement confirms BDDK approval for Kaspi.kz’s Rabobank A.Ş. purchase, progressing its Turkish expansion. With prior acquisition news averaging -1.31% moves, investors may track execution in Türkiye and monitor continued insider selling as a governance risk.

Key Figures

Expected closing: July 2026 Revenue: KZT 1.1 trillion Revenue growth: 31% +5 more

Expected closing

July 2026

Anticipated completion of Rabobank A.Ş. acquisition

Revenue

KZT 1.1 trillion

1Q 2026 revenue, up 31% year-over-year

Revenue growth

31%

Year-over-year revenue increase in 1Q 2026

Adjusted EBITDA

KZT 368 billion

1Q 2026 adjusted EBITDA, up 9% year-over-year

Net income

KZT 252 billion

1Q 2026 net income, down 1% year-over-year

Senior notes issued

$600 million

5.900% senior unsecured notes due 2031

Hepsiburada deal value

$1.127 billion

Consideration for controlling interest in Hepsiburada

Short interest

1.53%

Reported short interest as of settlement date 2026-05-29

Previous Acquisition Reports

2 past events · Latest: Mar 27

Same Type 2 events

1. Mar 27

   Rabobank deal announcement

   24h Move

   -1.5%

   Agreed to acquire Rabobank A.Ş. in Türkiye, pending regulatory approvals.

2. Jan 29

   Hepsiburada acquisition

   24h Move

   -1.1%

   Completed $1.127B purchase of controlling stake in Hepsiburada, expanding market reach.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

banking regulation and supervision agency of türkiye

1 terms

banking regulation and supervision agency of türkiye regulatory

"received regulatory approval from the Banking Regulation and Supervision Agency of Türkiye (“BDDK”)"

The Banking Regulation and Supervision Agency of Türkiye is the government agency that writes and enforces the rules banks must follow, issues licenses, and checks banks’ health to protect depositors and the financial system. Think of it as the referee and safety inspector for the banking sector: its decisions influence how risky or stable banks appear, how easily credit flows, and therefore can affect bank stock values and broader market confidence.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

ALMATY, Kazakhstan, June 24, 2026 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz (“Kaspi.kz”) (Nasdaq: KSPI) today announced that it has received regulatory approval from the Banking Regulation and Supervision Agency of Türkiye (“BDDK”) to acquire Rabobank A.Ş., a fully licensed bank in Türkiye. The transaction is expected to close in July 2026, subject to the satisfaction of customary closing conditions.

Mikheil Lomtadze, CEO and Co-Founder of Kaspi.kz, commented:

“We are delighted to have received approval from the BDDK in connection with our acquisition of Rabobank A.Ş. in Türkiye.

This is an important milestone for Kaspi.kz and a significant step forward in the development of our business in Türkiye. We are grateful for the constructive engagement of the BDDK and relevant authorities throughout this process.

Türkiye is one of the world’s most dynamic countries, with a large and digitally engaged population, entrepreneurial businesses, and a fast-growing digital economy. We have great respect for the local entrepreneurs, financial institutions, and partners who are helping shape the future of commerce in the country.

Following completion, we look forward to applying our experience in payments, marketplace and fintech to serve Turkish consumers and merchants.

We are at the early stages of this journey, and we are very excited about the opportunities ahead.”

About Kaspi.kz

Kaspi.kz’s mission is to improve people’s lives by developing innovative mobile products and services.

Kaspi.kz operates a unique two-sided Super App model, serving more than 25 million consumers and 900 thousand merchants across Kazakhstan and Türkiye. In Kazakhstan, our Super App seamlessly integrates payments, e-Commerce, e-grocery, fintech, travel, classifieds and government services. This comprehensive offering is deeply relevant to users’ daily lives, driving exceptional engagement with 77 monthly transactions per active consumer. In Türkiye, Kaspi.kz owns an 86.74% stake in Hepsiburada, one of the country’s leading e-Commerce platforms.

Kaspi.kz has been listed on Nasdaq since January 2024.

For further information

David Ferguson david.ferguson@kaspi.kz

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Kaspi.kz (Nasdaq: KSPI) announce about Rabobank A.Ş. on June 24, 2026?

Kaspi.kz announced it received BDDK regulatory approval to acquire Rabobank A.Ş. in Türkiye. According to Kaspi.kz, Rabobank A.Ş. is a fully licensed Turkish bank and the deal is expected to close in July 2026, subject to customary closing conditions.

When is Kaspi.kz’s acquisition of Rabobank A.Ş. in Türkiye expected to close?

The acquisition is expected to close in July 2026. According to Kaspi.kz, completion remains subject to the satisfaction of customary closing conditions, meaning the deal is approved by regulators but still needs standard transaction requirements to be fulfilled before finalization.

Why is Kaspi.kz (KSPI) acquiring Rabobank A.Ş. in Türkiye?

Kaspi.kz views the acquisition as an important step in developing its Turkish business. According to Kaspi.kz, Türkiye has a large, digitally engaged population and fast-growing digital economy, aligning with its focus on payments, marketplace, and fintech services for consumers and merchants.

What regulatory approval did Kaspi.kz (KSPI) receive for the Rabobank A.Ş. deal?

Kaspi.kz received approval from Türkiye’s Banking Regulation and Supervision Agency (BDDK) to acquire Rabobank A.Ş. According to Kaspi.kz, this authorization is a key milestone that allows the company to move toward closing the transaction, pending customary closing conditions in July 2026.

How does the Rabobank A.Ş. acquisition support Kaspi.kz’s fintech strategy in Türkiye?

The acquisition gives Kaspi.kz a fully licensed banking platform in Türkiye. According to Kaspi.kz, it plans to apply its experience in payments, marketplace, and fintech to better serve Turkish consumers and merchants, supporting long-term growth in the country’s digital economy.