Kazakh fintech giant Kaspi.kz acquires Rabobank’s Turkiye operations, marking its second deal in the country this year, following its acquisition of Hepsiburada.
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| Kaspi.kz secures Rabobank Turkiye's banking operations, reinforcing its growth in the Turkish market following its Hepsiburada acquisition. Image: Rabobank |
Istanbul, Turkey – March 29, 2025:
Kaspi.kz, the Kazakhstan-based fintech and banking giant, has announced the acquisition of Rabobank’s operations in Turkiye, marking its second significant deal in the country in just a few months. The fintech leader, known for its prominent position in Central Asia, reached an agreement to purchase the shares of Rabobank A.Ş., a subsidiary of the Netherlands-based lender that has operated in Turkiye since 2014.
In a brief statement, Kaspi.kz confirmed the transaction, noting that the deal is still subject to regulatory approval. However, the company did not disclose the financial details of the acquisition, which it described as “not material.” Rabobank A.Ş. holds a full banking license in Turkiye but does not have an active borrowing or deposit network or any branch presence in the country.
This acquisition follows Kaspi.kz's $1.13 billion purchase of a controlling stake in Hepsiburada, Turkey’s leading e-commerce platform, in October 2024. This move further solidifies Kaspi.kz’s growing influence in Turkiye’s expanding digital and financial sectors.
The acquisition of Rabobank's Turkiye operations signals Kaspi.kz’s long-term strategy to expand its presence in Europe and beyond, while continuing its investment in Turkey’s rapidly developing fintech and e-commerce sectors.
Kaspi.kz has been listed on the Nasdaq since January 2024, adding another layer to its ambitious plans for growth in international markets.