ALMATY, Kazakhstan, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The company is issuing the following statement following the research report published by Culper Research today: In our view, the report is misleading, inaccurate and misrepresents our business. Being the first company from Kazakhstan to successfully list on Nasdaq has obviously raised our profile amongst short sellers. For those investors who have known us over the years, our reputation speaks for itself. About Kaspi.kz Kaspi.kz's mission is to improve ...

ALMATY, Kazakhstan, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Kaspi.kz has received its first international credit rating. Fitch rates Kaspi.kz investment grade BBB- with a stable outlook. This rating is separate from Kaspi Bank, a component of Kaspi.kz's Fintech Platform, which has been tracked by international rating agencies for many years. Fitch also rates Kaspi Bank investment grade BBB- with a stable outlook. According to Fitch, the rating reflects Kaspi.kz's unique business profile, leading nationwide franc ...

ALMATY, Kazakhstan, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Moody's has upgraded its long-term deposit ratings to investment grade Baa3 from Ba1 with a stable outlook for Kaspi Bank, a core part of Kaspi.kz's Fintech Platform. Moody's cited sound profitability, liquidity and the resilience of Kaspi.kz's proven business model including Fintech, Payments and Marketplace Platforms. According to Moody's: Kaspi.kz's proven business model has demonstrated resilience throughout the economic cycle. Kaspi.kz has sound fu ...

ALMATY, Kazakhstan, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz ("Kaspi.kz") has sent a formal letter of interest to Uzbekistan's State Assets Management Agency ("SAMA"), indicating its interest in participating in the upcoming privatization of the National Interbank Processing Center ("Humo"). SAMA has unveiled plans to privatize a 100% stake in the Humo payment system via a public negotiation process. Humo is one of two payment systems in Uzbekistan and enables all aspects of the paymen ...

Finding reliable investments that can deliver consistent returns in uncertain macroeconomic times is more crucial than ever right now. After a massive rally, the broader market is finally seeing a correction, and many investors are already spooked. Thus, it might make sense to consider adding exposure to top dividend growth stocks. These stocks can be very good friends in turbulent markets, since dividend growth stocks usually have some of the most solid underlying businesses. Not only are these companies s ...

Exhibit 99.1 JOINT STOCK COMPANY KASPI.KZ Interim Condensed Consolidated Financial Information For the six months ended 30 June 2024 (Unaudited) Joint Stock Company Kaspi.kz Table of Contents | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------|-------------|-------| | | | Page | | INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION FOR THE THREE AND SIX MONTHS ENDED 30 JUNE 2024 (UNAUDITED): | | ...

Financial Data and Key Metrics Changes - The company reported a consolidated revenue increase of 36% year-over-year and a net income increase of 25% [21] - Payments total payment volume (TPV) grew by 32% year-over-year, with revenue up 23% and net income up 2% [20][24] - Marketplace GMV increased by 62% year-over-year, with revenue up 96% and net income up 68% [19] - Fintech TPV grew by 43% year-over-year, with revenue up 23% and net income up 2% [20] Business Line Data and Key Metrics Changes - e-Grocery active consumers reached 639,000, with GMV nearly doubling and a 99% growth rate [7] - The marketplace is the fastest-growing segment, with significant contributions from e-commerce, which saw GMV up 113% [25][26] - The payments platform saw transaction trends up 46% in Q2 and 44% year-on-year in the first half [13] Market Data and Key Metrics Changes - The company is expanding its presence in three major cities: Almaty, Astana, and Shymkent, which account for about half of the total food retail trade in Kazakhstan [9] - The e-commerce segment is now almost half of the marketplace GMV, with strong demand driven by promotional campaigns [25] Company Strategy and Development Direction - The company is focused on diversifying its services and expanding its marketplace offerings, with a strong emphasis on supporting local merchants [5][19] - There is a strategic initiative to build additional dark stores to meet high consumer demand in the e-Grocery segment [8] - The company is exploring international expansion opportunities while being cautious to avoid negatively impacting local merchants [98] Management's Comments on Operating Environment and Future Outlook - Management anticipates a rebound in profitability for the fintech division starting in Q3, with a strong performance expected in Q4 [17][20] - The company is optimistic about the growth trajectory, with a focus on maintaining strong consumer engagement and transaction volumes [18] - Management noted that the Juma promotional events will impact growth rates, with expectations for lower growth in Q3 but a significant rebound in Q4 [31][34] Other Important Information - The company has declared a dividend of KZT850, indicating a commitment to returning excess capital to shareholders [27] - The introduction of brand advertising services is expected to enhance revenue streams and brand awareness for merchants [23] Q&A Session Summary Question: Can you clarify the fiscal year expectations and growth rates for the second half? - Management reiterated that Q3 will see lower growth due to the absence of the Juma promotional event, with a rebound expected in Q4 [31][34] Question: What is the status of international expansion efforts? - Management confirmed that they are selectively pursuing international opportunities but did not disclose specific regions or targets [46] Question: How does the company view the impact of tax increases in Kazakhstan? - Management indicated that while there are discussions about tax changes, they do not foresee a material impact on the business at this time [68][78] Question: Can you quantify the GMV contribution from Juma? - Historically, Juma has contributed about 15% to 20% of GMV in the month it occurs, but this year may differ due to seasonality [86] Question: What is the outlook for the cost of risk? - Management stated that the cost of risk remains stable, with no significant concerns for the upcoming quarters [87]

Kaspi.kz Consumer Super App 22 July, 2024 This presentation contains forward-looking statements within the meaning of the U.S. federal securities laws, which statements relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as "believe," "may," "might," "will," "expect," "estimate," "could," "should," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "prospective," "continue," "is/are ...

2Q 2024 Highlights To the shareholders of Kaspi.kz: User engagement continues to hit record levels, with our consumers transacting 72 times per month, payments transaction up 46% year-over-year and marketplace purchases up 38%. We always aim to do more for our customers and strong transaction activity in turn is resulting in rapid top-line momentum across our business. Another important area of focus for us, is merchant value-added services. This includes advertising, where we recently launched our brand ad ...

I believe e-commerce stocks will continue their resurgence in the second half of 2024. The likely catalyst for this move will be interest rate cuts tied to falling inflation. If borrowers have just a little more wiggle room, it's reasonable to expect that online shoppers will come back will full force and start buying in increasing volumes. There are still some e-commerce stocks that have very high growth and are valued at attractive prices. I think such stocks could follow in the footsteps of Amazon (NASDA ...