JSC Kaspi.kz S&P Global Upgrades Credit Rating (5692Z)
15 Septembre 2022 - 8:00AM
UK Regulatory
TIDMKSPI
RNS Number : 5692Z
JSC Kaspi.kz
15 September 2022
S&P Global Upgrades Credit Rating
Yesterday (14 September 2022) S&P Global raised its ratings
on Kaspi Bank to 'BB' from 'BB-' and to 'kzA+' from 'kzA' with a
stable rating outlook. Kaspi Bank is a core component of Kaspi.kz's
Fintech Platform. S&P cited Kaspi.kz's strong and sustainable
earnings generation, underpinned by a solid franchise across all
its platforms and a proven strategy.
According to S&P Global:
-- We believe Kaspi Bank's credit profile will continue to
benefit from sustainably strong earnings generation, underpinned by
a solid franchise across all Kaspi.kz's platforms.
-- We think the group's track record of solid earnings
generation through periods of volatility will continue to support
its capital base and business flexibility.
-- We expect continued robust profitability, with ROAE remaining
above 75% over the next two years.
Mikhail Lomtadze, CEO and co-founder of Kaspi.kz, commented:
"An increase in Kaspi's credit ratings is another confirmation
of the quality of work done by our amazing team in Kazakhstan. We
will continue to delight our valued customers with innovative
services that improve their lives. More than 12 million
Kazakhstanis use the Kaspi.kz Super App every month. Thank you to
each and every one for being with us!"
About Kaspi.kz
Kaspi.kz's mission is to improve people's lives by developing
innovative mobile products and services. At our core is the
Kaspi.kz Super App, the leading mobile app in Kazakhstan.
The Kaspi.kz Super App serves as a single gateway to our
Payments, Marketplace and Fintech Platforms and is an integral part
of our users' daily lives. As people's lives become increasingly
digitalised, Super App usage is expected to grow supported by
accelerating adoption of cashless payments, e-Commerce and digital
financial services.
Kaspi.kz Super App business model ensures the growth and
development of one service contributes to the growth and
development of other services, creating a powerful virtuous cycle.
Increasing usage of a growing number of services puts Kaspi.kz in a
strong position to keep innovating, delighting our users and
fulfilling our mission.
Kaspi.kz has been listed on the London Stock Exchange since
2020.
For further information
david.ferguson@kaspi.kz +44 7427 751 275
Forward-looking statements
Some of the information in this announcement may contain
projections or other forward looking statements regarding future
events or the future financial performance of Kaspi.kz. You can
identify forward looking statements by terms such as "expect",
"believe", "anticipate", "estimate", "intend", "will", "could,"
"may" or "might", the negative of such terms or other similar
expressions. Kaspi.kz wish to caution you that these statements are
only predictions and that actual events or results may differ
materially. Kaspi.kz does not intend to update these statements to
reflect events and circumstances occurring after the date hereof or
to reflect the occurrence of unanticipated events. Many factors
could cause the actual results to differ materially from those
contained in projections or forward-looking statements of Kaspi.kz,
including, among others, general economic conditions, the
competitive environment, risks associated with operating in
Kazakhstan, rapid technological and market change in the industries
the Company operates in, as well as many other risks specifically
related to Kaspi.kz and its respective operations
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END
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