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.
Kaspi.kz (KSPI) operates Kazakhstan's leading integrated digital ecosystem, providing fintech solutions, e-commerce services, and mobile payment infrastructure through its consumer and merchant Super Apps. This page consolidates all official company announcements and market-moving developments for stakeholders tracking its growth in Central Asia's digital economy.
Investors and analysts will find timely updates including quarterly earnings reports, strategic partnership announcements, product launch details, and regulatory filings. Content is organized to highlight operational milestones across Kaspi.kz's three core platforms: Payments infrastructure innovations, Marketplace expansion initiatives, and Fintech product enhancements.
Key updates cover merchant network growth metrics, technological advancements in mobile payment security, and ecosystem expansion strategies. All materials are sourced from verified corporate communications to ensure compliance with financial disclosure standards. Bookmark this page for efficient tracking of Kaspi.kz's market position and industry leadership in Kazakhstan's cashless transformation.
Moody's has upgraded Kaspi Bank's long-term deposit ratings to investment grade Baa3 from Ba1 with a stable outlook. This upgrade reflects the sound profitability, liquidity, and resilience of Kaspi.kz's business model, which includes Fintech, Payments, and Marketplace Platforms. Moody's cited Kaspi.kz's proven business model and sound fundamentals as key factors. The improving operating environment in Kazakhstan, which recently saw its government rating upgraded to Baa1, is expected to further benefit the company.
Kaspi.kz's CEO, Mikhail Lomtadze, emphasized the company's Super App strategy and its trust among 14 million Kazakhstanis and 700,000 merchants. He also highlighted Kazakhstan's progress in developing a fast-growing, diverse, and modern digital economy with solid financial fundamentals.
Kaspi.kz, a leading fintech company, has expressed formal interest in participating in the privatization of Humo, Uzbekistan's national payment system. The State Assets Management Agency (SAMA) plans to privatize 100% of Humo through a public negotiation process. Humo is one of two payment systems in Uzbekistan, with over 23 million cards issued, 200,000 points of sale, and 6,000 ATMs.
Mikheil Lomtadze, CEO of Kaspi.kz, emphasized Uzbekistan's growing economy and its attractiveness to investors. Kaspi.kz, known for its innovative digital products, aims to contribute to Uzbekistan's digital payments journey. The privatization process will involve three stages: expression of interest, non-binding proposals, and binding proposals with a 1% guarantee payment.
Kaspi.kz (KSPI) held its Extraordinary General Meeting on August 21, 2024, passing several key resolutions. Shareholders approved a dividend of KZT 850 per common share for Q2 2024, with payments commencing on August 21, 2024. The record date for dividend eligibility was set as August 20, 2024. Additionally, Deloitte LLP was reappointed as the external auditor for Kaspi.kz's 2024 financial statements. These decisions reflect the company's commitment to shareholder value and financial transparency.
Kaspi.kz (Nasdaq: KSPI) has announced an Extraordinary General Meeting of Shareholders scheduled for August 21, 2024 in Almaty, Kazakhstan. The agenda includes approval of dividend payments and appointment of an external auditor. The Board recommends a dividend of 850 KZT per common share, with a proposed record date of August 20, 2024 for common shareholders and August 22, 2024 for ADS holders. The Board also recommends renewing Deloitte LLP's appointment as external auditor for another 12 months. If quorum is not met, a repeated meeting will be held on August 22, 2024.
Kaspi.kz (Nasdaq: KSPI) reported strong financial results for Q2 2024, with revenue up 36% and net income up 25% year-over-year. The company's Payments and Marketplace Platforms accounted for 68% of consolidated net income. Key highlights include:
- Marketplace GMV and revenue grew 62% and 96% YoY respectively
- e-Commerce GMV increased 113% YoY
- Payments transactions up 46% YoY
- Fintech Platform TFV growth up 43% YoY
The company launched new services, including brand advertising and expanded e-Grocery operations. Kaspi.kz remains on track to deliver around 25% year-over-year full-year 2024 consolidated net income growth. The Board proposed a dividend of KZT850/ADS, subject to shareholder approval.
On June 27, 2024, Kaspi.kz (KSPI US) announced it will report its financial results for the second quarter and first half of 2024 on July 22, 2024. The announcement will include a conference call and webcast at 8:00 AM EST (1:00 PM GMT, 5:00 PM Astana time) to review and discuss the results. Interested parties can pre-register for the call through a provided link and will receive access details via email. This event is important for investors looking to gain insights into the company's financial performance for the specified period.
S&P Global has upgraded Kaspi Bank's credit rating to BB+, recognizing the bank's robust financial performance and strategic growth. Kaspi Bank, a key part of Kaspi.kz's Fintech platform, received an upgrade in its long-term global scale rating from BB to BB+ with a stable outlook. The Kazakhstan national scale rating was also lifted to kzAA+ from kzAA-. The rating agency highlighted Kaspi.kz's unique strategy, leading brand, superior asset quality, and strong financial track record. Over the past five years, Kaspi.kz has maintained an average return on equity (ROE) of 80%, with expectations of continued strong earnings. The company's diversification into Payment and Marketplace Platforms has been a significant contributor to its growth and customer loyalty. CEO Mikhail Lomtadze acknowledged the efforts of the team and expressed gratitude to their consumers and merchants.
On May 23, 2024, Joint Stock Company Kaspi.kz (Nasdaq: KSPI) announced the resolutions passed at its Extraordinary General Meeting held on May 22, 2024. The key resolutions included the approval of the meeting agenda and the payment of dividends. A dividend of KZT 850 per common share will be paid for the first quarter of 2024. The dividend payment will commence on May 22, 2024, to shareholders recorded as of May 21, 2024. Payments will be made in cash via wire transfers to shareholders' accounts.
Harvard Business School (HBS) has published a new case study on Kaspi.kz (Nasdaq: KSPI), titled 'Kaspi.kz: Building Trust through Innovation'. This marks the second HBS case study on Kaspi.kz, following the 2019 study 'Kaspi.kz IPO'. The latest study explores how Kaspi.kz's unique corporate culture and commitment to high-quality services have enabled it to build strong customer trust and develop innovative digital products with high adoption rates. The study also examines whether these factors will support Kaspi.kz's expansion beyond Kazakhstan. Mikhail Lomtadze, CEO and co-founder of Kaspi.kz, expressed satisfaction with HBS's focus on the company's culture and service quality. The case study is available on the HBS website.
Kaspi.kz has partnered with Alipay+ to allow its customers to pay using the Kaspi.kz Super App and QR code in China. This partnership aims to provide a seamless payment experience for Kazakhstanis traveling in China, eliminating the need for cash or cards. CEO Mikhail Lomtadze expressed gratitude for the partnership, emphasizing the convenience it brings to customers. Venetia Lee of Ant International highlighted the innovation and service excellence behind the collaboration, aiming to enhance travel and shopping experiences.
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