Kaspi Plans to Acquire Turkish Rabobank Subsidiary by End of 2025

Kazakh fintech company Kaspi.kz, co-owned by Vyacheslav Kim and Mikhail Lomtadze, plans to complete its acquisition of Turkish bank Rabobank A.Ş. by the end of 2025, according to the firm’s Q2 financial report, Orda.kz reports.

Kaspi said the deal is expected to close “in the second half of 2025.”

We are working to secure regulatory approval for the acquisition of Rabobank A.Ş. Our goal for this year remains unchanged — to establish a solid foundation for our long-term international growth strategy. It will require a lot of work and targeted investment, but we are pleased with the progress we’ve made in a short time,Kaspi.kz co-founder Mikhail Lomtadze said.

The company estimates the project’s investment at $300 million, viewing expansion into Türkiye as a strategic priority.

Rabobank A.Ş. is the Turkish arm of Dutch cooperative bank Rabobank, the second-largest bank in the Netherlands by assets. Its parent company ranks among the world’s top 50 financial institutions. Kaspi.kz first revealed its interest in the acquisition in March.

Late last year, Kaspi.kz also agreed to acquire a controlling stake in Hepsiburada, one of Türkiye’s largest online marketplaces.

Original Author: Nikita Drobny