Joint Stock Co Kaspi.kz (KSPI) Form 6-K — Aug 10, 2026

Key figures

Revenue

KZT1.1 trillion ($2.3 billion)

Guidance

Full-year 2026 guidance reiterated; average net loan portfolio growth deemed more representative than TFV; assumes constant currency exchange rates as of January 1, 2026

Net Income

KZT259 billion ($539 million), stable YoY

Revenue Yoy

+15%

Fx Rate

KZT480.72 per USD as of 30 June 2026

Npl Ratio

7.0% in 6M 2026 vs 6.1% in full-year 2025

Cost Of Risk

0.7% in 2Q 2026 vs 0.6% in 2Q 2025

Payments Tpv

KZT12.7 trillion ($26.3 billion), +13% YoY

Ecommerce Gmv

KZT1.3 trillion ($2.6 billion), +28% YoY constant currency

Cost Of Funding

14.5%, up 150 bps YoY

Adjusted Ebitda

KZT397 billion ($826 million), +5% YoY

Deposit Rate Cut

100 bps on 3-month deposit product in August (~one-third of deposits, first cut in over two years)

Fintech Revenue

KZT455 billion ($946 million), +23% YoY

Marketplace Gmv

KZT2.3 trillion ($4.8 billion), +15% YoY constant currency

Active Consumers

More than 26 million consumers and 900 thousand merchants

Payments Revenue

KZT169 billion ($351 million), +5% YoY

Ecommerce Revenue

KZT394 billion ($820 million), +35% YoY constant currency

Hepsiburada Stake

86.7%

Marketplace Revenue

KZT508 billion ($1.1 billion), +11% YoY

Ecommerce3p Take Rate

16.1%, +160 bps YoY

Fintech Adjusted Ebitda

KZT171 billion ($356 million), +6% YoY

Payments Adjusted Ebitda

KZT98 billion ($204 million), down 1% YoY

Proposed Dividend Per Ad S

KZT1,000, up 18% from KZT850 in 1Q 2026, subject to shareholder approval

Average Net Loan Portfolio

KZT7.3 trillion ($15.2 billion), +18% YoY

Hepsi Bank Planned Capitalization

$300 million

Monthly Transactions Per Active Consumer

77 in Kazakhstan