Kaspi.kz aims to finalize acquisition of Turkish Rabobank A.S. by end 2025

ASTANA. Oct 3 (Interfax) - Kazakh fintech holding Kaspi.kz plans to complete its acquisition of Turkey's Rabobank A.S. by the end of this year, Kaspi.kz CEO and co-owner Mikheil Lomtadze said.

"We are now getting approvals from the regulators. This is a bank with no branch network, employing 27 people, and the deal will enable us to obtain a license to offer financial services in the Turkish market," Lomtadze said at the Digital Bridge 2025 Forum when asked about the status of the acquisition.

He said e-commerce services would be launched in Turkey, featuring products similar to those offered in Kazakhstan. The bank acquisition is intended to provide the financial infrastructure for the e-commerce platform Hepsiburada. Rabobank and the e-commerce marketplace Hepsiburada will operate in tandem, similar to how Kaspi.kz divisions function in Kazakhstan.

Lomtadze said several products were currently being developed by joint teams for the Turkish market, which are also planned for introduction in Kazakhstan. In the near future, Turkish merchants' goods will appear on Kaspi, while Kazakh merchants' goods will be featured on Hepsiburada.

"We need to create the fastest delivery of goods from Turkey to Kazakhstan and from Kazakhstan to Turkey," he said.

Earlier this year, Kaspi.kz completed the acquisition of a controlling stake of 65.41% in the Turkish e-commerce platform Hepsiburada.

The Kaspi.kz holding company encompasses online payment services, P2P transfers, personal finance management, and online shopping. The company operates across three platforms: payments, marketplace, and fintech. The group includes Kaspi Shop LLP, Kaspi Bank, Kaspi Pay LLP and Kaspi Travel LLP.

As of July 1, 2025, the largest shareholders of Kaspi.kz were Baring Funds (23.37%), Mikheil Lomtadze (21.53%) and Vyacheslav Kim (20.39%).