KASPI.KZ’s net profit in 1H23 increased by 50% to 376 billion tenge

ALMA-ATA, July 24 (Reuters) – Kazakh fintech company Kaspi.kz posted a 50% year-on-year increase in net profit to 376 billion tenge ($844.5 million) in the first half of 2023, the company said on Monday.

Kaspi.kz raised its net profit growth forecast to over 30% from 25% previously. In addition, the company announced that based on the results of the second quarter of 2023, it is proposing a dividend payment of 750 tenge per global depositary receipt (GDR).

The company announcement also says that Kaspi.kz will launch a new $100 million buyout program.

Kaspi.kz, which owns Kaspi Bank, Kazakhstan’s third largest retail bank, listed $1 billion worth of GDRs on the London Stock Exchange in October 2020.

($1 = 445.25 tenge) (Maria Gordeeva)