The Fintech Giant Of Kazakhstan Grew By 37% In 2022

Jose Sequeira
Jose Sequeira Business
3 Min Read

In its most recent financial statements,, which had a splashy stock market entrance in late 2020 when it went public in London and became the most valuable Kazakh firm ever listed, reported full-year net sales of Kazakhstan tenge (KZT) 309.7 billion. In 4Q22, net sales increased by 47% year over year to KZT87.8 billion ($201.94 million).’s 4Q22 net earnings was KZT24.8 billion, up 48% year over year. For the whole year, net income increased to KZT80.1 billion, up 33% year over year. The business said that expansion in its core sectors, such as the financial and payment services segments, was what drove its financial success. At the conclusion of the company’s fiscal year in 2022, Kaspi Pay, which handles payments, had surpassed 21 million active customers and had rapid growth in transaction volume. The financial services division of expanded as well, with the company’s loan portfolio increasing by 38% year over year to KZT1.2tn.’s Performance seems Unrivaled

In order to improve its offers, introduced additional services throughout the fiscal year 2022, thereby enhancing the company’s digital ecosystem. In order to increase its range of payment options, the business teamed with multinational businesses like PayPal and Mastercard and introduced Kaspi Gold, a new platform that enables consumers to purchase and sell gold.

the fintech giant of kazakhstan grew by 37% in 2022

“We are thrilled to report another solid quarter and full year performance, driven by the expansion of our core businesses and our sustained investment in our digital ecosystem,” CEO Mikheil Lomtadze said.

The Unique Conditions made Successful

The corporation benefitted from consumers switching to digital services because of the COVID-19 epidemic and being compelled to spend much of their time indoors during its ascent to fame. The company’s Super App, which offers bill payment, loans, peer-to-peer payments, an online marketplace, and a personal finance management tool, was emphasized during its first public offering.

Several shops in Kazakhstan use the Kaspi app to take payments and offer items on its marketplace. Numerous merchants accept the payment method as an alternative to cash for Kazakh customers. As a result, the Kaspi app is now a rapidly expandingly popular payment method.

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Strong media and communication professional with a MA in Broadcast Journalism from City University and a BA in Media Studies with Spanish from the University of Sussex. Started my career as a journalist I have been working for almost 10 years in different regional and national news channels along with assorted media and still now I am working for different digital content creators. I love staying up to date with the latest developments in the crypto world, and I'm always on the lookout for new and innovative blockchain projects. I believe that crypto has the potential to revolutionize the way we think about finance and money, and I'm committed to bringing the most important news and analysis to my readers. With my extensive knowledge of the industry and my ability to spot emerging trends, I'm confident in my ability to keep my readers informed and engaged in this fast-paced and rapidly changing space.
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