Kaspi.kz Achieves Landmark International Credit Rating
Kaspi.kz Achieves Landmark International Credit Rating
In a significant milestone, Kaspi.kz has received its first international credit rating, with Fitch assigning it an investment grade of BBB- and a stable outlook. This development marks a notable achievement in the financial technology landscape, particularly for Kaspi.kz, distinct from its banking entity, Kaspi Bank, which has long been recognized by international rating agencies.
Understanding the Rating from Fitch
Fitch's new rating is a reflection of Kaspi.kz's unique business profile and robust market presence. It highlights the company's impressive operating profitability, which stands out when compared to peers in the global fintech industry. Notably, Fitch points to several key factors that contribute to this favorable rating.
Diverse and Innovative Business Model
One of the primary drivers of Kaspi.kz's rating is its diverse business model. Kaspi.kz operates a Super App, a distinct approach that successfully integrates a wide array of services including payments, commerce, and financial technology. This model not only serves consumers but also merchants, creating a versatile ecosystem for financial transactions.
Exceptional Profitability
Another notable aspect highlighted by Fitch is Kaspi.kz's stellar profitability. Over the past eight years, the company's return on equity has soared to an extraordinary 80%. This explosive growth trajectory is a testament to the successful expansion of its Payments and Marketplace Platforms, which have become vital sources of revenue, ensuring predictable earnings.
Mikhail Lomtadze's Insight on the Rating
Mikhail Lomtadze, the CEO and co-founder of Kaspi.kz, expressed enthusiasm regarding this achievement. He stated, "This is the first time Kaspi.kz has received a credit rating. Fitch’s ratings for Kaspi.kz and Kaspi Bank follow on from Moody’s decision to upgrade Kaspi Bank to investment grade. Moody’s also recently upgraded Kazakhstan’s credit rating, acknowledging the country’s strides toward creating a dynamic and modern digital economy with strong financial foundations."
About Kaspi.kz and Its Mission
Kaspi.kz is driven by its mission to enhance the quality of life for individuals through innovative mobile products and services. The company operates a two-sided Super App platform: the consumer-facing Kaspi.kz Super App and the merchant-centric Kaspi Pay Super App. These platforms enable users to access a broad range of services across Payments, Marketplace, and Fintech sectors, tailored to meet their everyday needs.
Engagement and Innovative Growth
The integration of a vast and engaged customer base with top-tier digital products facilitates strong growth and a sustainable business model. Kaspi.kz's commitment to continuous innovation underscores their dedication to customer satisfaction and their overarching mission. Harvard Business School has recognized Kaspi.kz's achievements, producing two case studies that are now used to educate its MBA students.
Company's Listing and Contact Information
Kaspi.kz made its debut on Nasdaq in early 2024, sealing its status as a formidable player in the financial technology arena. For inquiries or more information, please contact:
Davd Ferguson
Email: david.ferguson@kaspi.kz
Phone: +44 7427 751 275
Frequently Asked Questions
What rating has Kaspi.kz received from Fitch?
Kaspi.kz has received a BBB- investment grade credit rating with a stable outlook from Fitch.
What distinguishes Kaspi.kz's business model?
Kaspi.kz operates a Super App that effectively combines payments, commerce, and fintech services, creating a unique ecosystem for users.
How has Kaspi.kz performed in terms of profitability?
Kaspi.kz has demonstrated exceptional profitability, with an astonishing 80% return on equity over the last eight years.
What recent recognition did Kaspi Bank achieve?
Moody’s upgraded Kaspi Bank to investment grade, reflecting the bank’s solid financial standing and performance within Kazakhstan.
What is the main mission of Kaspi.kz?
Kaspi.kz aims to improve lives by delivering innovative mobile products and services through its Super App platforms, catering to both consumers and merchants.
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