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 (Nasdaq: KSPI) is a technology company that operates the Kaspi.kz and Kaspi Pay Super Apps, combining Payments, Marketplace and Fintech Platforms into a single mobile ecosystem. This news page brings together the company’s public announcements, including quarterly and half-year financial results, strategic updates and other corporate disclosures.
Investors and followers of KSPI can use this feed to review Kaspi.kz’s reported performance across its Payments, Marketplace and Fintech Platforms. The company regularly publishes unaudited interim IFRS financial information for periods such as the first quarter, first half and nine months, as well as detailed press releases summarizing revenue, net income and key operating metrics like total payment volume, gross merchandise value, total finance volume and monthly transactions per active consumer.
Kaspi.kz’s news also covers developments in its Super App ecosystem, including the launch and expansion of services such as e-Grocery, Kaspi Travel, Kaspi Delivery, Kaspi Advertising, Classifieds, Kaspi Restaurants and Kaspi Tours. Announcements have highlighted new payment capabilities like Kaspi Pay QR integrations with banks and AliPay+, the introduction of Kaspi Alaqan pay-by-palm, and the rollout of Kaspi Ai tools to enhance Marketplace product presentation.
Beyond Kazakhstan, company releases describe Kaspi.kz’s strategic steps in Türkiye, including its controlling stake in Hepsiburada, improvement initiatives at that platform and the planned acquisition of Rabobank A.Ş. Regulatory and capital markets updates, such as the filing of the Annual Report on Form 20-F and the issuance of U.S. dollar–denominated notes, are also reported. Bookmark this page to access Kaspi.kz’s official news flow and track how management describes the evolution of its Super App ecosystem over time.
Kaspi.kz (NASDAQ: KSPI) has announced a definitive agreement to acquire a 65.41% stake in Hepsiburada (NASDAQ: HEPS), a leading Turkish e-commerce platform, for approximately $1,127 million. The transaction, expected to close in Q1 2025, will be paid in two cash installments. Hepsiburada, founded in 2000, recorded about $4 billion in gross merchandise value (GMV) for fiscal year 2023, serving around 12 million consumers and 101 thousand merchants.
This strategic move expands Kaspi.kz's addressable market to 100 million people. Both companies will maintain distinct brands and operating structures post-acquisition. The deal aims to leverage combined knowledge and technology to advance e-commerce and digital services in Türkiye and Kazakhstan. Kaspi.kz plans to finance the investment using its own cash from operations and cash at hand, with potential exploration of debt capital markets following its recent BBB- investment grade credit rating by Fitch.
Kaspi.kz, a leading financial technology company in Kazakhstan, has responded to investor questions, providing key insights into its business operations and regulatory compliance efforts. The company highlighted that 99.6% of its 2023 revenue was generated in Kazakhstan, with minimal revenue from Azerbaijan and Ukraine. Kaspi.kz emphasized its robust 'know your customer' (KYC) processes and strict adherence to international sanctions lists.
The company clarified that only 2.8% of customer account balances come from non-residents of Kazakhstan, and just 0.3% of Marketplace GMV is from non-resident purchases. Kaspi.kz also addressed its acquisitions, including the classifieds business in Azerbaijan and Portmone in Ukraine. The company disclosed its 90.01% stake in Magnum e-Grocery, with a commitment to invest KZT 70,000 million over three years.
Kaspi.kz (KSPI US) has announced that it will release its financial results for the third quarter and nine months ended September 30, 2024, on Monday, October 21, 2024. The company's management will host a conference call and webcast on the same day at 8:00 AM EST (1:00 PM GMT, 5:00 PM Astana time) to discuss and review the financial performance for the period.
Interested parties can pre-register for the conference call by visiting the provided link: https://www.netroadshow.com/events/login?show=ac66cfee&confId=71533. Access details will be sent via email upon registration.
Kaspi.kz has issued a statement in response to a research report published by Culper Research on September 19, 2024. The company strongly refutes the report, describing it as misleading, inaccurate, and misrepresentative of their business operations. Kaspi.kz attributes the increased scrutiny to their status as the first Kazakhstani company to list on Nasdaq, which has heightened their visibility among short sellers. The company emphasizes its established reputation among long-term investors as a testament to its credibility.
Kaspi.kz has received its first international credit rating from Fitch, achieving an investment grade BBB- with a stable outlook. This rating applies to Kaspi.kz as a whole, separate from Kaspi Bank's existing BBB- rating. Fitch highlighted Kaspi.kz's unique business profile, leading nationwide franchise, and strong operating profitability compared to global peers.
Key rating drivers include Kaspi.kz's diverse business model, combining leading franchises in payments, commerce, and fintech through its Super App. The company's stellar profitability is emphasized, with an extraordinary 80% return on equity over the past 8 years. CEO Mikhail Lomtadze noted that this rating follows Moody's recent upgrade of Kaspi Bank to investment grade and Kazakhstan's improved credit rating.
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.
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