Kaspi.kz AO (KSPI) News & EventsKSPINews & EventsKaspi.kz AO

Kaspi.kz Receives Regulatory Approval to Acquire Rabobank

Kaspi.kz announced that it has received regulatory approval from the Banking Regulation and Supervision Agency of Turkiye to acquire Rabobank, a fully licensed bank in Turkiye. The transaction is expected to close in July, subject to the satisfaction of customary closing conditions.

Kaspi.kz Plans to Distribute KZT 850 Quarterly Dividend per ADS

CEO Mikhail Lomtadze said, "Two topics have dominated my conversations with investors over the last year: our progress in Turkiye and our approach to dividends. I want to address these and the other questions we hear most often, so that you better understand the context behind the decisions we're taking. Both Turkiye and dividends connect to a single ambition: to build Kaspi.kz into a 100 million user company. We believe that every strategic decision we make - the launch of new products and services, investments in Turkiye, and dividend policy - is anchored to this goal...We have always maintained that we will prioritize high-impact international opportunities where we believe we can create long-term value. Following the acquisition of Hepsiburada, we anticipate that we can now balance targeted growth investments and resume dividend distributions to our shareholders. Subject to shareholder approval, we intend to pay a quarterly dividend of KZT 850 per ADS. Based on the business's current performance and cash generation, we believe this is sustainable for the remainder of 2026. We believe that our progress in Turkiye has been substantial. Over the past year, we have tested and validated key elements of our operating model, strengthening our conviction that it can work at scale in Turkiye. We are prioritizing our investments and efforts to increase orders, consumers and engagement through better personalisation, more relevant search, faster delivery, broader payment options, and improved marketing efficiency. Next-day shipment, which now covers around 63% of orders, up from around 47% in 4Q 2024 is a good example of the changes we're making."

Kaspi.kz Anticipates Completing Rabobank A.S. Acquisition by Mid-2026

The company said, "On the 27th March 2025 Joint Stock Company Kaspi.kz signed a share purchase agreement with Rabobank Group, relating to the purchase of Rabobank's Turkish subsidiary Rabobank A.S. The closing of the transaction remains subject to the receipt of the required regulatory approvals and satisfaction of all customary closing conditions. We now expect this to take place in mid-2026."