Kaspi.kz buys Rabobank in Turkey

Kaspi.kz has signed an agreement to purchase the Turkish subsidiary of Rabobank A.Ş. from Rabobank Group.

Rabobank A.Ş. holds a full banking license in Turkey but has no clients with deposits or loans, nor does it have a branch network. The transaction is not considered material. Its completion depends on obtaining necessary regulatory approvals and fulfilling standard closing conditions.

Kaspi.kz develops innovative mobile products and services, aiming to improve people's daily lives. The company uses a two-sided super app model: Kaspi.kz Super App for users and Kaspi Pay Super App for businesses.

These platforms integrate payments, marketplace, and FinTech services, helping users and entrepreneurs interact and conduct transactions. This approach ensures rapid growth, a profitable business model, and continuous development of new products.

Harvard Business School has dedicated two case studies to Kaspi.kz, which are studied by MBA students. Since January 2024, the company has been trading on Nasdaq.

Teniz Capital Brokerage will expand the functionality of its retail investor application.