Kaspi, the Kazakhstan-based fintech giant, has secured an agreement to acquire Rabobank’s operations in Turkiye. This acquisition marks the company’s second strategic move in Turkiye this year, following its purchase of a majority stake in Turkish e-commerce platform Hepsiburada in October 2024, reads a Daily Sabah report.
The agreement, announced on Thursday, involves the purchase of Rabobank A.Ş., which has been operating in Turkiye since 2014 with a full banking license. However, Rabobank A.Ş. does not have a client network or branch presence in the country. Kaspi confirmed the deal is still pending regulatory approval, and while the financial details were not disclosed, the company emphasized that the transaction is not considered material.
Kaspi’s expansion into Turkiye follows its broader ambitions to increase its footprint in Europe and beyond. The company’s acquisition of a controlling stake in Hepsiburada for $1.13 billion in cash earlier in 2024 reflects its commitment to the Turkish market, particularly in fintech and e-commerce.
As part of its ongoing international growth, Kaspi was also listed on Nasdaq in January 2024, strengthening its global position. The Rabobank acquisition positions Kaspi for further growth within Turkiye’s rapidly evolving financial and digital sectors.
Bd-pratidin English/ Jisan
