ALMATY, Kazakhstan, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz ("Kaspi.kz", "we") (Nasdaq:KSPI) which operates the Kaspi.kz and Kaspi Pay Super Apps in Kazakhstan and owns 66.35% of Hepsiburada in Türkiye, today published its unaudited consolidated IFRS financial results for the quarter and first half ended 30 June 2025 ("2Q & 1H 2025"). 2Q & 1H 2025 Highlights To the shareholders of Kaspi.kz: The second quarter marked our first full quarter owning Hepsiburada. The teams in Türkiye are c ...

Core Insights - Kaspi.kz will report its financial results for the quarter and half ending June 30, 2025, on August 4, 2025, with a conference call scheduled for 8.00am EST [1] - The company operates a unique two-sided Super App model, which includes Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants [3][4] - Kaspi.kz acquired a 65.41% stake in Hepsiburada, a leading e-commerce company in Türkiye, in January 2025 [5] Company Overview - Kaspi.kz aims to improve people's lives through innovative mobile products and services [3] - The Super Apps provide access to Payments, Marketplace, and Fintech Platforms, designed to meet everyday needs of users [4] - The company has a large, engaged consumer and merchant base, which contributes to strong top-line growth and a profitable business model [5] Academic Recognition - Harvard Business School has developed two case studies on Kaspi.kz, which are used in its MBA curriculum [6] - The company has been listed on Nasdaq since January 2024 [6]

Core Insights - Kaspi.kz reported a 21% year-over-year increase in revenue and a 16% increase in net income for Q1 2025, excluding Türkiye [3] - Monthly transactions per active consumer reached 75, indicating strong customer engagement [3] - The company experienced a 23% increase in total payment volume (TPV) and a 17% increase in transactions within its Payments segment [3] Financial Performance - Payments revenue grew by 16% year-over-year, while net income in this segment increased by 21% [3] - Marketplace platform revenue grew by 33% year-over-year, significantly outpacing the 20% growth in gross merchandise volume (GMV) [3] - e-Grocery within the Marketplace saw a remarkable GMV increase of 64% year-over-year [3] Fintech and Credit Quality - The Fintech platform's total financing volume (TFV) grew by 17% year-over-year, with revenue growth of 18% attributed to healthy origination levels [3] - Macro-provisioning increased to 0.6% of cost of risk in Q1 2025, up from 0.5% in the same period in 2024, but underlying customer credit quality trends remain healthy [3] Strategic Developments - The acquisition of 65.41% of Hepsiburada was completed in January 2025, with an initial cash payment of $600 million and an additional $526.9 million due within six months [3] - A $650 million Eurobond was successfully placed to support expansion plans in Türkiye [3] - The company is in the process of acquiring Rabobank A.Ş. to launch deposit products and fund other financial services, pending regulatory approval [3] Market Conditions and Outlook - New smartphone registration requirements in Kazakhstan temporarily reduced demand, resulting in a 7% lower e-commerce GMV growth in Q1 [3] - The company expects around 15% consolidated net income growth year-over-year in 2025, a more conservative outlook compared to the previous guidance of 20% [3]

Group 1 - Kaspi.kz will report its financial results for the quarter ending March 31, 2025, on May 12, 2025, with a conference call scheduled for 8.00am EST [1] - The company operates a unique two-sided Super App model, which includes Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants [3][5] - Kaspi.kz provides leading Payments, Marketplace, and Fintech Platforms through its Super Apps, designed to meet users' everyday needs [4] Group 2 - The company has a large, engaged consumer and merchant base, which contributes to strong top-line growth and a profitable business model [5] - Kaspi.kz has been listed on Nasdaq since January 2024, indicating its growth and expansion in the financial markets [5]

Core Viewpoint - Kaspi.kz has signed a share purchase agreement to acquire Rabobank's Turkish subsidiary, Rabobank A.Ş., which is not considered a material transaction [1]. Group 1: Transaction Details - The acquisition is pending regulatory approvals and customary closing conditions [2]. - Rabobank A.Ş. is a fully licensed bank in Turkiye without borrowing or depositing clients and lacks a branch network [1]. Group 2: Company Overview - Kaspi.kz aims to enhance lives through innovative mobile products and services, operating a two-sided Super App model for consumers and merchants [3]. - The Super Apps provide access to Payments, Marketplace, and Fintech Platforms, facilitating transactions between consumers and merchants [4]. - The company boasts a large, engaged user base and a capex lite approach, leading to strong growth and profitability [5]. - Kaspi.kz has been listed on Nasdaq since January 2024 and has been the subject of case studies at Harvard Business School [5].

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]