NEW YORK, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Joint Stock Company Kaspi.kz ("Kaspi" or "the Company") (NASDAQ: KSPI). Investors who purchased Kaspi securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/KSPI. Investigation Details On September 19, 2024, Culper Research published a report alleging, among other things, tha ...

ALMATY, Kazakhstan, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Kaspi.kz's mission is to improve people's lives by developing innovative mobile products and services. To deliver upon this we operate a unique twosided Super App model – Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants. We are proud of the business we have built, which we are continuing to grow by serving consumers and businesses across Kazakhstan. Here are some important facts we think you should know about our business and our r ...

ALMATY, Kazakhstan, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Kaspi.kz (KSPI US) will report its financial results for the quarter and nine months ended September 30, 2024, on Monday, 21st October, 2024. On that day, management will hold a conference call and webcast at 8.00am EST (1pm GMT, 5.00pm Astana time) to review and discuss the company's results for the period. 3rd Quarter & 9 months 2024 Financial Results Conference Call Monday, 21st October, 2024 To pre-register for this call, please go to the following ...

ALMATY, Kazakhstan, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The company is issuing the following statement following the research report published by Culper Research today: In our view, the report is misleading, inaccurate and misrepresents our business. Being the first company from Kazakhstan to successfully list on Nasdaq has obviously raised our profile amongst short sellers. For those investors who have known us over the years, our reputation speaks for itself. About Kaspi.kz Kaspi.kz's mission is to improve ...

ALMATY, Kazakhstan, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Kaspi.kz has received its first international credit rating. Fitch rates Kaspi.kz investment grade BBB- with a stable outlook. This rating is separate from Kaspi Bank, a component of Kaspi.kz's Fintech Platform, which has been tracked by international rating agencies for many years. Fitch also rates Kaspi Bank investment grade BBB- with a stable outlook. According to Fitch, the rating reflects Kaspi.kz's unique business profile, leading nationwide franc ...

ALMATY, Kazakhstan, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Moody's has upgraded its long-term deposit ratings to investment grade Baa3 from Ba1 with a stable outlook for Kaspi Bank, a core part of Kaspi.kz's Fintech Platform. Moody's cited sound profitability, liquidity and the resilience of Kaspi.kz's proven business model including Fintech, Payments and Marketplace Platforms. According to Moody's: Kaspi.kz's proven business model has demonstrated resilience throughout the economic cycle. Kaspi.kz has sound fu ...

ALMATY, Kazakhstan, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz ("Kaspi.kz") has sent a formal letter of interest to Uzbekistan's State Assets Management Agency ("SAMA"), indicating its interest in participating in the upcoming privatization of the National Interbank Processing Center ("Humo"). SAMA has unveiled plans to privatize a 100% stake in the Humo payment system via a public negotiation process. Humo is one of two payment systems in Uzbekistan and enables all aspects of the paymen ...

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Exhibit 99.1 JOINT STOCK COMPANY KASPI.KZ Interim Condensed Consolidated Financial Information For the six months ended 30 June 2024 (Unaudited) Joint Stock Company Kaspi.kz Table of Contents | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------|-------------|-------| | | | Page | | INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION FOR THE THREE AND SIX MONTHS ENDED 30 JUNE 2024 (UNAUDITED): | | ...

Financial Data and Key Metrics Changes - The company reported a consolidated revenue increase of 36% year-over-year and a net income increase of 25% [21] - Payments total payment volume (TPV) grew by 32% year-over-year, with revenue up 23% and net income up 2% [20][24] - Marketplace GMV increased by 62% year-over-year, with revenue up 96% and net income up 68% [19] - Fintech TPV grew by 43% year-over-year, with revenue up 23% and net income up 2% [20] Business Line Data and Key Metrics Changes - e-Grocery active consumers reached 639,000, with GMV nearly doubling and a 99% growth rate [7] - The marketplace is the fastest-growing segment, with significant contributions from e-commerce, which saw GMV up 113% [25][26] - The payments platform saw transaction trends up 46% in Q2 and 44% year-on-year in the first half [13] Market Data and Key Metrics Changes - The company is expanding its presence in three major cities: Almaty, Astana, and Shymkent, which account for about half of the total food retail trade in Kazakhstan [9] - The e-commerce segment is now almost half of the marketplace GMV, with strong demand driven by promotional campaigns [25] Company Strategy and Development Direction - The company is focused on diversifying its services and expanding its marketplace offerings, with a strong emphasis on supporting local merchants [5][19] - There is a strategic initiative to build additional dark stores to meet high consumer demand in the e-Grocery segment [8] - The company is exploring international expansion opportunities while being cautious to avoid negatively impacting local merchants [98] Management's Comments on Operating Environment and Future Outlook - Management anticipates a rebound in profitability for the fintech division starting in Q3, with a strong performance expected in Q4 [17][20] - The company is optimistic about the growth trajectory, with a focus on maintaining strong consumer engagement and transaction volumes [18] - Management noted that the Juma promotional events will impact growth rates, with expectations for lower growth in Q3 but a significant rebound in Q4 [31][34] Other Important Information - The company has declared a dividend of KZT850, indicating a commitment to returning excess capital to shareholders [27] - The introduction of brand advertising services is expected to enhance revenue streams and brand awareness for merchants [23] Q&A Session Summary Question: Can you clarify the fiscal year expectations and growth rates for the second half? - Management reiterated that Q3 will see lower growth due to the absence of the Juma promotional event, with a rebound expected in Q4 [31][34] Question: What is the status of international expansion efforts? - Management confirmed that they are selectively pursuing international opportunities but did not disclose specific regions or targets [46] Question: How does the company view the impact of tax increases in Kazakhstan? - Management indicated that while there are discussions about tax changes, they do not foresee a material impact on the business at this time [68][78] Question: Can you quantify the GMV contribution from Juma? - Historically, Juma has contributed about 15% to 20% of GMV in the month it occurs, but this year may differ due to seasonality [86] Question: What is the outlook for the cost of risk? - Management stated that the cost of risk remains stable, with no significant concerns for the upcoming quarters [87]