Kazakhstan’s Kaspi.kz rebrands Rabobank Türkiye as Hepsi Bank

Kazakhstan's Kaspi.kz, a fintech group, has rebranded Rabobank A.S. in Turkey as Hepsi Bank. This move follows Kaspi.kz's acquisition of the bank and marks the launch of its integration with the Hepsiburada marketplace, as the company expands its financial services in Turkey.

The rebranding was revealed in Kaspi.kz's financial report for the first half of 2026, after the acquisition of Rabobank A.S., the Turkish subsidiary of the Dutch Rabobank Group, was finalized. As part of this integration, Hepsi Bank has started providing consumer loans to customers shopping on Hepsiburada, a Turkish e-commerce marketplace where Kaspi.kz holds an 86.7% controlling interest.

Kaspi.kz reported positive initial customer feedback on the lending service, and the risk level observed during the pilot phase was deemed acceptable for further expansion.

Beginning in 2027, the group intends to broaden Hepsi Bank's deposit-taking and lending activities in Turkey. Kaspi.kz also plans to inject an additional $300 million in capital into the bank to support its growth. The company stated that the Turkish market offers substantial long-term prospects for transparent and convenient fintech products for both consumers and merchants.

Kaspi.kz's Turkish operations generated approximately 551.75 billion Kazakh tenge ($1.18 billion) in revenue during the first half of 2026, representing about one-quarter of the group's total revenue of 2.21 trillion tenge ($4.75 billion). Concurrently, the group's net profit remained largely consistent with the previous year, at 510.8 billion tenge. Kaspi.kz indicated that investments in Turkey were among the factors influencing its financial results.

Kaspi.kz initially announced its intention to acquire 100% of Rabobank A.S. in March 2025. The transaction experienced several delays while awaiting approval from Turkish banking regulators. In June 2026, Turkey's Banking Regulation and Supervision Agency approved the sale of Rabobank A.S., and Kaspi.kz subsequently confirmed the completion of the acquisition on July 15.

This acquisition provides Kaspi.kz with a banking platform in Turkey that can be integrated with its existing e-commerce operations through Hepsiburada, enabling the group to develop financial services directly within the marketplace. As of July 1, 2026, Mikhail Lomtadze was Kaspi.kz's largest shareholder with a 21.95% stake, followed by Vyacheslav Kim with 19.4%, and the investment fund Baring with 18.1%.

Kaspi.kz is a Kazakhstan-based fintech group that operates across payments, marketplace, and financial services. Its expansion into Turkey follows the acquisition of Hepsiburada and the subsequent purchase of Rabobank A.S., creating an opportunity to combine e-commerce and banking services within a unified ecosystem.