Kaspi.kz Clears Regulatory Hurdle for Rabobank A.Ş. Acquisition in Türkiye — Joint Stock Company Kaspi.kz

Event summary

Kaspi.kz received regulatory approval from BDDK to acquire Rabobank A.Ş., a fully licensed bank in Türkiye.
The transaction is expected to close in July 2026, subject to customary closing conditions.
Kaspi.kz operates a Super App model serving 25 million consumers and 900 thousand merchants across Kazakhstan and Türkiye.
Kaspi.kz owns an 86.74% stake in Hepsiburada, one of Türkiye’s leading e-Commerce platforms.

The big picture

Kaspi.kz’s acquisition of Rabobank A.Ş. marks a strategic move to strengthen its presence in Türkiye’s fast-growing digital economy. The deal aligns with the company’s mission to expand its Super App model, which already integrates payments, e-Commerce, and fintech services. This expansion comes as digital banking and e-Commerce platforms increasingly converge, driven by high consumer engagement and entrepreneurial activity in the region.

What we're watching

Integration Strategy: How Kaspi.kz will integrate Rabobank A.Ş. into its existing Super App ecosystem in Türkiye.
Market Penetration: Whether the acquisition will accelerate Kaspi.kz’s growth in Türkiye’s competitive digital banking sector.
Regulatory Compliance: The pace at which Kaspi.kz can navigate additional regulatory requirements post-acquisition.