Kaspi.kz Achieves Milestone with International Credit Rating
Kaspi.kz has reached a significant milestone, being awarded its first international credit rating. Fitch has assigned the company an investment grade of BBB- with a stable outlook. This is an important achievement in the fintech sector, especially for Kaspi.kz, which is separate from its banking arm, Kaspi Bank, that has been well-regarded by international rating agencies for some time.
Breaking Down Fitch's Rating
The recent rating from Fitch sheds light on Kaspi.kz's unique business profile and its strong presence in the market. The rating emphasizes the company's impressive operating profitability, especially in comparison with its fintech peers around the world. Fitch identifies several key factors that play a role in this positive assessment.
Diverse and Innovative Business Model
A major factor that boosts Kaspi.kz's rating is its diverse business model. The company runs a Super App that effectively combines a wide range of services, including payments, commerce, and fintech solutions. This approach not only adds value for consumers but also benefits merchants, collectively creating a versatile ecosystem for financial transactions.
Outstanding Profitability
An important point raised by Fitch is Kaspi.kz's remarkable profitability. Over the last eight years, the company has achieved a staggering 80% return on equity. This rapid growth trajectory highlights the success of its Payments and Marketplace Platforms, which have established themselves as crucial revenue streams, ensuring reliable earnings.
Insights from Mikhail Lomtadze
Mikhail Lomtadze, the CEO and co-founder of Kaspi.kz, shared his excitement about this achievement. He said, "This is the first time Kaspi.kz has received a credit rating. Fitch’s ratings for both Kaspi.kz and Kaspi Bank come after Moody’s upgraded Kaspi Bank to investment grade. Recently, Moody’s also raised Kazakhstan’s credit rating, recognizing the country's efforts in fostering a modern digital economy with a solid financial foundation."
About Kaspi.kz and Its Vision
Kaspi.kz is committed to enhancing people’s lives through innovative mobile products and services. The company operates two main platforms: the consumer-oriented Kaspi.kz Super App and the merchant-focused Kaspi Pay Super App. These platforms provide users access to a wide array of services spanning Payments, Marketplace, and Fintech, specifically designed to address everyday needs.
Commitment to Engagement and Growth
By integrating a vast and engaged customer base with top-notch digital products, Kaspi.kz ensures strong growth and maintains a sustainable business model. Their emphasis on ongoing innovation reflects their dedication to customer satisfaction and their overarching mission. Notably, Harvard Business School recognized Kaspi.kz's accomplishments and has developed two case studies based on the company, which are now used to teach MBA students.
Company Listing and Contact Information
Kaspi.kz made its debut on Nasdaq in early 2024, solidifying its position as a key player in the financial technology sector. For more information or inquiries, please reach out to:
David Ferguson
Email: david.ferguson@kaspi.kz
Phone: +44 7427 751 275
Frequently Asked Questions
What credit rating has Kaspi.kz received from Fitch?
Kaspi.kz has received a BBB- investment grade credit rating with a stable outlook from Fitch.
What makes Kaspi.kz's business model stand out?
Kaspi.kz operates a Super App that skillfully merges payments, commerce, and fintech services, creating a unique ecosystem for its users.
How has Kaspi.kz fared in terms of profitability?
Kaspi.kz has reported outstanding profitability, achieving an incredible 80% return on equity over the last eight years.
What recent achievement did Kaspi Bank receive?
Moody’s upgraded Kaspi Bank to investment grade, indicating the bank’s strong financial health and performance within Kazakhstan.
What is Kaspi.kz's primary mission?
Kaspi.kz aims to enhance lives by providing innovative mobile products and services through its Super App platforms, designed for both consumers and merchants.
