The Kazakh fintech company Kaspi.kz has signed a sale and purchase agreement for 100% of BTA Bank Ukraine shares, the transaction is scheduled to be completed in the first half of 2022.
“We have entered into a sale and purchase agreement for 100% of BTA Bank Ukraine. It is purchased exclusively to obtain a banking license in Ukraine. This will allow us to launch fintech products, open mobile wallets, accounts, etc.,” the official website Kaspi.kz says.
As noted in the document, BTA Bank Ukraine conducts limited operational activities, it does not have branches and a loan portfolio. According to the holding, the deal will not have a significant financial impact on Kaspi.kz.
“With the banking license and payment licenses of Portmone Group, we will take a strong position and will be able to repeat the Super App strategy in Ukraine,” the report says.
The cost of the deal was not disclosed.
As reported, in October Kaspi.kz completed the acquisition of Portmone Group, an online payment platform in Ukraine, which was controlled by Europe Virgin Fund (EVF).
