Group 1 - Kaspi.kz has signed a share purchase agreement to acquire Rabobank's Turkish subsidiary, Rabobank A.Ş., which is a fully licensed bank in Turkiye without borrowing or depositing clients or a branch network [1] - The transaction is not considered material and is pending regulatory approvals and customary closing conditions [2] - Kaspi.kz operates a unique two-sided Super App model, providing innovative mobile products and services to consumers and merchants [3][4] Group 2 - The company's Super Apps facilitate access to Payments, Marketplace, and Fintech Platforms, designed to meet everyday needs and enable transactions between users [4] - Kaspi.kz's business model is characterized by strong top-line growth and profitability, supported by a large, engaged consumer and merchant base and a capex lite approach [5] - The company has been listed on Nasdaq since January 2024 and has been the subject of case studies at Harvard Business School [5]

Core Insights - Kaspi.kz has filed its Annual Report on Form 20-F for the year ended December 31, 2024 with the U.S. SEC, indicating ongoing compliance and transparency in financial reporting [1] - The company operates a unique two-sided Super App model, which includes the Kaspi.kz Super App for consumers and the Kaspi Pay Super App for merchants, aimed at improving users' lives through innovative mobile products and services [2][3] Company Overview - Kaspi.kz provides access to leading Payments, Marketplace, and Fintech Platforms through its Super Apps, facilitating transactions between consumers and merchants [3] - The company boasts a large and highly engaged consumer and merchant base, which, combined with its capex lite approach, results in strong top-line growth and a profitable business model [4] Recent Developments - In January 2025, Kaspi.kz acquired a 65.41% stake in Hepsiburada, a leading e-commerce technology platform in Türkiye, expanding its market presence and capabilities [4] - The company has been recognized academically, with Harvard Business School writing two case studies on Kaspi.kz, which are taught to MBA students [5] - Kaspi.kz has been listed on Nasdaq since January 2024, enhancing its visibility and credibility in the financial markets [5]