Kazakhstan-based digital payment and e-wallet system operator, Kaspi.kz has renamed Rabobank Turkey as Hepsi Bank, a month after it received final regulatory approvals for the acquisition, according to a Public Disclosure Platform (KAP) announcement.
Kaspi.kz also owns the Nasdaq-listed Turkish e-commerce platform Hepsiburada (NASDAQ: HEPS), which it acquired for a consideration of USD 1.1bn in 2025. The Kazakh company is planning to offer its financial SuperApp in Turkey and the banking acquisition is expected to play a crucial role in its plan. 👉 Kazakh investors are actively searching for opportunities in Turkey. There is another Kazakh conglomerate, Freedom Holding Corp. recently received an approval from Turkish authorities to acquire another bank TurkishBank Group in Turkey. Both companies are offering superapps in Kazakhstan and expected to compete in Turkey, too.
Turkey has 36 deposit banks (3 digital), 10 participation (sharia-compliant) banks, and 21 development and investment banks, according to BDDK data.
