Joint Stock Company Kaspi.kz (KSPI) Q2 FY26 earnings call

Kaspi.kz delivered a strong quarter, driven by robust e-commerce GMV and fintech revenue growth, despite currency headwinds impacting marketplace profitability and moderated payments TPV. The company launched its Casper AI assistant in Kazakhstan, showing promising early engagement metrics and efficiency gains in product discovery. Strategic investments in Turkey's fintech capabilities and the recent deposit rate cut position the company for future growth and improved profitability, particularly in the coming fiscal year.