Welcome to our dedicated page for Kaspi kz SEC filings (Ticker: KSPI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to Joint Stock Company Kaspi.kz’s U.S. Securities and Exchange Commission filings related to its Nasdaq-listed American Depositary Shares (ticker: KSPI). As a foreign private issuer, Kaspi.kz files an annual report on Form 20-F and furnishes periodic reports on Form 6-K, which include interim condensed consolidated financial information and press releases on financial results.
Through these filings, investors can review Kaspi.kz’s IFRS-based financial statements and accompanying disclosures for its Payments, Marketplace and Fintech Platforms. The Form 20-F includes audited annual financial statements, risk factors and other company information, while Forms 6-K have furnished items such as interim financial information for six- and nine-month periods and detailed releases on 1Q, 2Q, 1H, 3Q and 9M results.
Kaspi.kz also uses Form 6-K to report significant corporate developments, including the filing of its Annual Report on Form 20-F, the issuance of U.S. dollar–denominated notes and other capital markets transactions, and updates on its international expansion in Türkiye through Hepsiburada and the planned acquisition of Rabobank A.Ş. Each filing typically contains or references cautionary statements regarding forward-looking information and links to the company’s broader risk disclosures.
On Stock Titan, these SEC documents are paired with AI-powered summaries that highlight key points from lengthy filings, helping users quickly understand revenue and net income trends, segment performance, funding and capital structure developments, and other material information. Real-time updates from EDGAR ensure that new 20-F and 6-K submissions for KSPI appear promptly, while dedicated views for filings like the Form 20-F and transaction-related 6-Ks make it easier to navigate Kaspi.kz’s regulatory history.
Joint Stock Co Kaspi.kz director Zurab Nikvashvili filed an initial Form 3 reporting his holdings. He directly holds 470 American Depositary Shares, each representing one common share. He also holds options with a right to buy 940 ADS at an exercise price of $0.01 per ADS. According to the disclosure, these options become exercisable in two equal tranches starting two days after the release of the issuer's annual results for each of 2026 and 2027, subject to his continued service as a director through those dates. The filing does not show any new purchases or sales, only existing equity and option positions.
Joint Stock Co Kaspi.kz director Gardner Douglas W filed an initial ownership report showing holdings of 5,939 American Depositary Shares held directly. Each ADS represents one common share of the issuer, so this filing simply establishes his equity stake rather than reporting a new trade.
Joint Stock Co Kaspi.kz deputy chair for capital markets Yuri Didenko filed an initial ownership report showing holdings of 1,838,378 American Depositary Shares. Each ADS represents one common share of the company, so this reflects the same number of underlying common shares. This Form 3 is a disclosure of an existing position rather than a new purchase or sale.
Joint Stock Co Kaspi.kz director and more than ten percent owner Vyacheslav Kim filed an initial Form 3 showing a large existing stake. He reports direct ownership of 39,457,265 American Depositary Shares, each representing one common share of the company. This filing records holdings only and does not report any new purchase or sale.
Joint Stock Co Kaspi.kz officer Mosidze Tengiz, who serves as Deputy Chairman and CFO, has filed an initial statement of beneficial ownership. The filing reports direct ownership of 1,773,378 American Depositary Shares, each representing one common share of the issuer. This Form 3 does not disclose any recent purchases or sales, but instead records the CFO’s existing holdings as a baseline for future insider transaction reports.
Joint Stock Co Kaspi.kz director Szymon Gutkowski filed an initial ownership report on Form 3. The filing shows he directly holds 17,778 American Depositary Shares, each representing one common share of the company. This is a disclosure of existing holdings rather than a new stock purchase or sale.
Joint Stock Co Kaspi.kz executive Pavel Mironov, who serves as Deputy Chairman and COO, has filed a Form 3 reporting his beneficial ownership position in the company. He reports direct ownership of 1,806,379 American Depositary Shares, each representing one common share of Kaspi.kz.
Joint Stock Co Kaspi.kz director and Chairman/CEO Mikheil Lomtadze has reported his initial beneficial ownership in the company. He directly holds 43,790,623 American Depositary Shares, each representing one common share of Kaspi.kz. This filing establishes his status as a major shareholder and insider.
Joint Stock Co Kaspi.kz director Alina Prawdzik has filed an initial ownership report showing a direct position in the company. The filing lists beneficial ownership of 17,778 American Depositary Shares, each representing one common share of Kaspi.kz. This Form 3 does not reflect any new buy or sell transaction, only her existing holdings.
Kaspi.kz files its Form 20-F annual report for the year ended December 31, 2025, outlining its Kazakhstan-based super app ecosystem across payments, marketplace and fintech platforms. The company reports 190,227,932 common shares outstanding as of the period end.
Management describes key operating metrics in tenge and uses IFRS, with convenience translations at ₸505.53 per $1 as of December 31, 2025. Customer accounts reached ₸7,531,286 million, while retail term deposits and current accounts formed most funding, alongside bonds and subordinated debt.
Extensive risk disclosures highlight dependence on Kazakhstan’s economy and inflation (consumer price inflation of 9.8%, 8.6% and 12.3% in 2023–2025), rising NPL ratios (5.5% to 6.1%), liquidity and market risks, cybersecurity and data protection, competition, and execution risks around new businesses and the Hepsiburada expansion in Türkiye.