Kaspi Bank JSC
Kaspi Bank is a Kazakhstan-based bank headquartered in Almaty, focused on retail and digital banking and connected to the Kaspi.kz app and e-commerce platform.
Last updated September 25, 2026
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Overview
Kaspi Bank JSC, also styled kaspi bank, is a Kazakhstan-based financial institution headquartered in Almaty. The bank traces its origins to 1 January 1991, when it was established as Al Baraka Kazakhstan. It became a closed joint-stock company called Bank Caspian in 1997 and adopted the name kaspi bank in November 2008. The available account describes the bank as focused on retail customers and digital banking. Its services are centered on a mobile application for customers in Kazakhstan. The Kaspi.kz homepage presents a connected set of consumer services, including Kaspi Gold, money transfers, payments, deposits, online credit, and installment purchases. It also features an online marketplace and travel booking. The bank is associated with an e-commerce platform and its own delivery logistics, although the supplied evidence does not detail the legal or operational division of those activities between the bank and the wider group. The bank was placed under a holding company, initially called Kaspi Joint-Stock Company, in 2015; that holding company changed its name to Kaspi.kz in 2018. The supplied history identifies Caspian Group B.V. as the bank's majority shareholder from 2009, with 96.3% of its shares. It also reports that the bank was listed on the Kazakhstan Stock Exchange and that its parent listed on the London Stock Exchange in October 2020 and on Nasdaq in 2024. The evidence identifies Kazakhstan as the bank's market but does not establish the full scope of any other operating markets.
History
Kaspi Bank's institutional history begins on 1 January 1991, when the bank was founded as Al Baraka Kazakhstan. The supplied history attributes its establishment to a decision of Kazakhstan's president, Nursultan Nazarbayev. On 12 January 1997, the institution was converted into a closed joint-stock company and took the name Bank Caspian. The same source says that Vyacheslav Kim acquired the institution in 2002. These details describe the bank's institutional development; the evidence does not identify an individual founder. On 15 November 2008, Bank Caspian changed its name to kaspi bank. From 2009, the Dutch company Caspian Group B.V. was reported to be its principal shareholder, holding 96.3% of the bank's shares. In 2015, the bank was placed under a holding company named Kaspi Joint-Stock Company. That holding company changed its name to Kaspi.kz in 2018, situating the bank within the broader corporate group. The supplied description characterizes the bank's business as retail banking, with an emphasis on digital services and a mobile application for customers in Kazakhstan. It also associates the bank with an e-commerce platform and its own delivery logistics. The Kaspi.kz homepage shows how banking offerings appear alongside other app services: Kaspi Gold, transfers, payments, deposits, credit, installment purchases, marketplace shopping, and travel bookings. The evidence establishes this wider service context, but does not specify which functions are legally operated by the bank itself rather than other group entities. The bank is described as listed on the Kazakhstan Stock Exchange. The parent company's reported listings followed: it listed on the London Stock Exchange in October 2020 and on Nasdaq in 2024. The available sources do not provide a current named executive team, a precise listing ticker for the bank, or further information about subsequent corporate or ownership changes.
Founded as Al Baraka Kazakhstan
[3]Converted into a closed joint-stock company
[3]Acquired by Vyacheslav Kim
[3]Renamed kaspi bank
[3]Caspian Group B.V. reported as majority shareholder
[3]Placed under Kaspi Joint-Stock Company
[3]Holding company renamed Kaspi.kz
[3]Parent company listed in London
[3]Parent company listed on Nasdaq
[3]
Products and positioning
A Kazakhstan-focused retail and digital bank whose customer services are presented within the broader Kaspi.kz super-app and connected commerce ecosystem.
Kaspi Gold
The Kaspi.kz homepage presents Kaspi Gold for transfers, payments, and cash withdrawals without commission.
Kaspi Red+
The homepage describes Kaspi Red+ as offering 0% installment purchases at stores in the customer's city.
Kaspi.kz online marketplace
The homepage lists an online store spanning categories including electronics, clothing, household goods, groceries, and other products.
Kaspi.kz payments and transfers
The homepage promotes transfers and payments, including payments for more than 10,000 services.
Sources3 sources
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