Joint Stock Company Kaspi.kz(US:KSPI)2025-05-12 11:161Q 2025 Performance Highlights - Kaspi.kz experienced strong consumer engagement, with 75 monthly transactions per active consumer[9] - Payments platform TPV increased by 23% year-over-year[9] - Marketplace GMV grew by 20% year-over-year[9] - Fintech TFV increased by 17% year-over-year[9] - Consolidated revenue increased by 21% year-over-year[9] - Consolidated net income increased by 16% year-over-year[9] E-Grocery Growth - E-Grocery GMV increased by 64% year-over-year, driven by approximately 1 million consumers[10, 11] Eurobond Issuance and Acquisition - Kaspi.kz successfully issued $650 million Eurobonds at 6250% due in 2030[17, 18] - The company signed an agreement to acquire Rabobank AŞ in Turkey, with an expected investment of approximately $300 million in 2025[19, 20, 21] Hepsiburada Performance - Hepsiburada Marketplace GMV decreased by 15% year-over-year[63, 64] - Hepsiburada revenue decreased by 8% year-over-year[66, 67]