Approval received from BRSA: That bank is being sold to the Kazakhs

Kazakhstan-based financial technology company Kaspi.kz has taken a significant step toward acquiring Rabobank A.Ş., which operates in Turkey. With the Banking Regulation and Supervision Agency (BRSA) of Turkey granting approval for the transaction, the completion date has been set for July 2026.

Kaspi.kz is led by Vyacheslav Kim, one of the leading billionaires in the fintech sector. The company had been in long-standing negotiations to incorporate the Turkish branch, which belongs to the Rabobank Group, into its operations.

In a statement released by the company, it was reported that the acquisition process is expected to be concluded in July, pending the fulfillment of the necessary conditions.

Kaspi.kz CEO and co-founder Mikheil Lomtadze commented on the development, stating: 'We are pleased to receive approval from the BRSA regarding our acquisition of Rabobank A.Ş. in Turkey. This is an important milestone for Kaspi.kz and a significant step in developing our business in Turkey. We are grateful for the constructive engagement of the BRSA and the relevant authorities throughout this process.'

Kaspi.kz also made headlines in the e-commerce sector last year, strengthening its presence in the Turkish market by acquiring a majority stake in Hepsiburada for 1.13 billion dollars in January. With this new move, the company will have made its second major investment in Turkey.

News Source: 12punto