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# Kaspi.kz Updates Rabobank Turkey Acquisition Timeline, Closing Now Expected Mid-2026
- URL: https://www.theglobalbanker.com/kaspi-kz-updates-rabobank-turkey-acquisition-timeline-closing-expected-mid-2026/
- Published: 2025-11-28T12:36:00.000Z
- Updated: 2026-10-02T14:20:00.000Z
- Description: Kaspi.kz said closing of its acquisition of Rabobank A.Ş. in Türkiye, still subject to regulatory approvals and customary closing conditions, is now expected in mid-2026.
- Author: TGB Editorial Team
- Tags: M&A, Europe, #archive

Kaspi.kz disclosed on 28 November 2025 that the closing of its acquisition of Rabobank A.Ş. in Turkey has been delayed and is now expected to occur in mid-2026\. The Kazakh fintech and payments group had previously expected to close the deal in the second half of 2025; its update said closing remains subject to the required regulatory approvals and customary closing conditions.

The original sale and purchase agreement between Kaspi.kz and Rabobank for the Turkish subsidiary was signed on 27 March 2025\. The outstanding approvals include clearance from Türkiye's Banking Regulation and Supervision Agency (BRSA).

#### BRSA CLEARANCE REMAINS OUTSTANDING

The BRSA is the central authority responsible for licensing and supervising banks operating in Turkey. Acquisitions of Turkish banks by foreign entities require the agency's approval. 

Rabobank A.Ş. is the Turkish arm of the Dutch cooperative bank Rabobank. The Turkish subsidiary is a fully licensed bank with neither borrowing or depositing clients nor a branch network; Kaspi described the transaction as not material. For Kaspi.kz, which already controls Turkish e-commerce platform Hepsiburada (acquired in January 2025), the bank licence would add a regulated banking platform in Türkiye.

#### CLOSING STILL SUBJECT TO APPROVALS

The update referred to the SPA signed on 27 March 2025 and framed the delay as a matter of regulatory approvals. 

Kaspi.kz has not specified a more precise date within mid-2026 for the expected close.