[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Equilyse [@equilyse1](/creator/twitter/equilyse1) on x XXX followers Created: 2025-07-22 11:36:44 UTC $KSPI: Joint Stock Company — $KSPI — reported Q1 2025 results with XX% revenue growth and XX% net income growth, but smartphone registration rules in Kazakhstan hit e-commerce GMV, reducing growth by an estimated X percentage points. Management expects normalization in H2. Revised full-year GMV growth guidance is now 15-20%. Despite headwinds, Kaspi is strategically expanding. High interest rates are attracting deposits — new term deposits offer rates as high as 18%. The company successfully raised $XXX million in Eurobonds at 6.25%, supporting international expansion. E-grocery is a bright spot, with GMV up XX% year-over-year. Kaspi is moving into Turkey with a planned $XXX million investment and the acquisition of Rabobank — pending regulatory approval. Watch out for potential new taxes and reserve requirements in Kazakhstan, which could reduce net income by approximately XXX basis points. Hepsi Burada, the Turkish subsidiary, saw a net loss due to consumer boycotts.  XXX engagements  **Related Topics** [h2](/topic/h2) [kazakhstan](/topic/kazakhstan) [smartphone](/topic/smartphone) [quarterly earnings](/topic/quarterly-earnings) [$kspi](/topic/$kspi) [Post Link](https://x.com/equilyse1/status/1947621832602931550)
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Equilyse @equilyse1 on x XXX followers
Created: 2025-07-22 11:36:44 UTC
$KSPI: Joint Stock Company — $KSPI — reported Q1 2025 results with XX% revenue growth and XX% net income growth, but smartphone registration rules in Kazakhstan hit e-commerce GMV, reducing growth by an estimated X percentage points. Management expects normalization in H2. Revised full-year GMV growth guidance is now 15-20%.
Despite headwinds, Kaspi is strategically expanding. High interest rates are attracting deposits — new term deposits offer rates as high as 18%. The company successfully raised $XXX million in Eurobonds at 6.25%, supporting international expansion. E-grocery is a bright spot, with GMV up XX% year-over-year.
Kaspi is moving into Turkey with a planned $XXX million investment and the acquisition of Rabobank — pending regulatory approval. Watch out for potential new taxes and reserve requirements in Kazakhstan, which could reduce net income by approximately XXX basis points. Hepsi Burada, the Turkish subsidiary, saw a net loss due to consumer boycotts.
XXX engagements
Related Topics h2 kazakhstan smartphone quarterly earnings $kspi