Exhibit 99.1

Kaspi.kz 2Q & 1H 2025 Financial Results

Almaty, Kazakhstan, 4 August 2025 – Joint Stock Company Kaspi.kz (“Kaspi.kz”, “we”) (Nasdaq:KSPI) which operates the Kaspi.kz and Kaspi Pay Super Apps in Kazakhstan and owns 66.35% of Hepsiburada in Türkiye, today published its unaudited consolidated IFRS financial results for the quarter and first half ended 30 June 2025 (“2Q & 1H 2025”).

2Q & 1H 2025 Highlights

To the shareholders of Kaspi.kz:

Our financial results in the second quarter of 2025, were as we expected them to be. Consumer and merchant engagement in Kazakhstan remains strong, with 75 transactions per active consumer. Robust transaction trends, in turn contributed to solid top-line growth, with revenue excluding Türkiye up 20% year-over-year in both the second quarter and first half of 2025.

In April we raised our main deposit rate and our new higher rate, fixed term deposit products are proving popular. As we explained at the time of our first quarter results, this is putting pressure on our near-term earnings and is an important reason why bottom-line growth in Kazakhstan is below top-line growth. However, we are first and foremost a transaction-based business and we expect more deposits today will lead to more transactions and faster growth in the future.

We also keep adding new Super App services. In the last few months, e-Grocery has expanded into 2 new cities, making 5 so far. Kaspi Travel has just launched holidays within Kazakhstan, new advertising tools for merchants have been rolled out and we have connected Kaspi Pay QR to several local banks, as well as integrated with AliPay+. These are just a few examples, with the point being that as a long as we keep innovating in our home market, there’s no reason why we can’t keep delivering profitable growth. If interest rates come down, our bottom-line can benefit even more.

The second quarter marked our first full quarter owning Hepsiburada. The teams in Türkiye are currently focussed on multiple business improvements, encompassing areas including delivery, fintech solutions and the mobile app experience to name a few. By re-engineering Hepsiburada’s processes our goal is to bring the customer experience up to Kaspi.kz’s levels as quickly as possible.

At the same time, we’re working to secure the regulatory approvals to acquire Rabobank A.Ş. Our aim for this year remains to put the foundations of our long-term international growth strategy firmly in place. There is a lot of work to be done, and targeted investments will be required but we’re happy with the progress that has been made in a short period and as results start to come through, we will share them with you.

The third quarter of the year has started well, and I’m pleased to reiterate our 2025 guidance of around 15% net income growth year-over-year, excluding Türkiye. As we look into 2026, we believe Kaspi.kz can achieve a healthy balance between investing to create a bigger business and returning excess capital to our shareholders.

As always, I would like to thank every Kaspi.kz and Hepsiburada employee for their dedication to our consumers, merchants and partners. To our long-term shareholders, thank you for your ongoing trust and support.

Mikheil Lomtadze

Kaspi.kz CEO and co-founder

Update on product and strategic initiatives

In Kazakhstan the growth profile of our product portfolio is well balanced between initiatives that have achieved significant scale such as Kaspi Pay, established but still fast-growing services like e-Commerce and earlier-stage, high growth initiatives such as e-Grocery, Kaspi Advertising and B2B Payments.

Kaspi e-Grocery’s continued success is a good illustration of our ability to innovate with high quality, highly relevant products and rapidly scale them across our Super App user base. During 2Q 2025, e-Grocery GMV increased 57% year-over-year and active consumers reached 1.1 million, up from 639 thousand in the same period in 2024.

Over the last 3 years e-Grocery has expanded from its launch in Almaty, to cover Kazakhstan’s 5 largest cities, with Karaganda and Aktobe opened this year. We now operate 8 dedicated dark stores, with a further 2 due to open soon. We believe e-Grocery is well positioned to keep growing fast.

We have broadened the range of consumer deposits we offer, with the launch of fixed 3- and 6-month term products. Consumers receive a high interest rate and can make top-ups at any time. Take-up of these new products was strong in 2Q 2025, with a healthy balance between new inflows and existing funds being kept for longer with us.

The combination of new products and a higher main deposit rate, resulted in encouraging month-on-month deposit inflows in May, with momentum accelerating again in June.

When we launched Kaspi Travel we initially offered flight bookings before subsequently adding rail ticketing. In 2023, we launched Kaspi Tours, our international vacation package marketplace. This year we have launched holidays within Kazakhstan and the take up at the start of the summer holiday season has been strong. Just as international tours have been additive to Travel’s GMV growth, we expect domestic tours to help Kaspi Travel keep growing faster for longer.

In Payments we have integrated Kaspi Pay QR with 5 local banks and more are likely to be added in the future. We have also integrated with AliPay+ and its global partner network. This gives our merchants and consumers more options to transact with Kaspi.kz in Kazakhstan and when holidaying or doing business internationally. It also makes it easier for overseas visitors to spend when they’re visiting Kazakhstan.

With Kaspi Pay having achieved scale, we can grow its addressable market, by developing vertical specific services. Kaspi Restaurants helps restaurants offer a better service as well as generate more sales and is a good example of our vertical expansion strategy.

In recent years we have built a range of advertising products, to help Marketplace merchants sell more. Merchant Cashbacks is the latest addition. Merchants choose the products they wish to offer cashback on, the amount of the cashback and select the segment of customers they wish to reach. Cashbacks are funded by the merchant and help to reinforce the price competitiveness of Marketplace. In 1H 2025, advertising revenue from our full range of advertising products increased 91% year-over-year.

Kaspi.kz 2Q & 1H 2025 Financial Highlights

During 2Q 2025, total revenue excluding Türkiye increased 20% year-over-year to KZT734 billion. Including Türkiye revenue reached KZT982 billion. For 1H 2025, total revenue excluding Türkiye increased 20% year-over-year to KZT1.4 trillion. Including Türkiye revenue reached KZT1.8 trillion ($3.5 billion).

Our Payments Platform delivered healthy and predictable top-line growth, due to the ongoing popularity of Kaspi Pay and B2B Payments. In Marketplace, fast growth from Kaspi Advertising, Kaspi Delivery and Classifieds resulted in revenue growth significantly outpacing GMV growth.

e-Grocery keeps growing quickly as we expand into new cities. Robust TFV origination translated into strong Fintech revenue growth throughout the first half of 2025, with yield trends stable year-over-year.

During 2Q 2025, our consolidated net income excluding Türkiye increased 14% year-over-year to KZT276 billion. Including Türkiye net income was KZT259 billion. For 1H 2025, our consolidated net income excluding Türkiye increased 15% year-over-year to KZT535 billion. Including Türkiye net income was KZT513 billion ($987 million).

Our Payments Platform continued to deliver strong bottom-line growth and high profitability. Marketplace delivered solid profit growth, albeit at a lower rate than revenue growth due to fast growth from lower margin 1P e-Grocery.

In Fintech, deposit interest expenses increased 26% year-over-year in the second quarter of 2025, leading to slow profits growth.

Update on capital returns to shareholders

Our track record when it comes to returning capital to our shareholders is long established. However, in Türkiye we now have a unique opportunity to create a substantially bigger business and as previously flagged in 2025, we’re prioritising investing into our international growth.

In July was made the final payment of $526.9 million for Hepsiburada. The acquisition of Rabobank A.Ş remains on track to close in the second half of the year. Post-closing we expect to invest around $300 million.

As we look into next year, the cash generation capacity of our core business in Kazakhstan remains strong. As a result, in 2026 we currently envisage a balance between investing in our long-term growth and returning excess capital to our shareholders.

Payments Platform

Revenue and net income up 16% and 20% YoY in 1H 2025

Strong top-line & faster bottom-line growth

During 2Q 2025, transaction volumes increased 14% year-over-year. Volume growth reflects the popularity of Kaspi Pay, Bill Payments and fast adoption of B2B Payments. For 1H 2025, transaction volumes increased 15% year-over-year.

During 2Q 2025, TPV increased 21% year-over-year to KZT10.7 trillion. TPV growth above transactions growth reflects higher average ticket size year-over-year. For 1H 2025, TPV increased 22% year-over-year to KZT20.4 trillion.

Kaspi Pay QR and B2B Payments accounted for 69% and 6% of 1H 2025 TPV respectively. We expect B2B Payments to continue growing faster than Payments TPV in 2025.

Payments take rate during 2Q 2025 was 1.11%, compared with 1.18% in 2Q 2024. Consistent with previous periods, take rate decline reflects faster growth from lower take rate Kaspi Pay and B2B payments. For 1H 2025, take rate was 1.12% compared with 1.19% in the same period in 2024.

Payments Platform revenue increased 16% year-over-year to reach KZT161 billion during 2Q 2025. For 1H 2025, Payment’s revenue increased 16% year-over-year to KZT309 billion.

Payments Platform net income increased 19% year-over-year to KZT106 billion, during 2Q 2025. High and improving Payments Platform profitability continues to reflect tight cost control and operational gearing. For 1H 2025, Payments Platform net income increased 20% year-over-year to KZT204 billion.

Marketplace Platform

Revenue and net income up 29% and 16% YoY in 1H 2025

Revenue growth > GMV growth due to faster growth from advertising, delivery & classifieds

During 2Q 2025, Marketplace purchases increased 35% year-over-year. Marketplace demand continued to be led by e-Commerce including e-Grocery. For 1H 2025, Marketplace purchases increased 36% year-over-year.

In 2Q 2025, Marketplace GMV increased 15% year-over-year to reach KZT1.6 trillion. Although we held Kaspi Juma in June, we ran a lower level of promotional campaigns during the quarter. For 1H 2025, Marketplace GMV increased 17% year-over-year to reach KZT3.1 trillion.

Valued-added services revenue including Kaspi Delivery, Advertising and Classifieds contributed to Marketplace take rate increasing to 10.2% in both 2Q and 1H 2025 up from 9.5% in the same periods in 2024.

In 2Q 2025, e-Commerce demand was strong with purchases up 89% year-over-year. e-Commerce GMV increased 22% year-over-year to KZT747 billion. For 1H 2025, e-Commerce GMV increased 23% year-over-year to KZT1.4 trillion.

Excluding smartphones e-Commerce GMV increased 31% year-over-year during the second quarter of 2025.

In March new requirements to register imported smartphones were announced. This has caused country wide supply disruption. More recently we have added functionality to reassure our e-Commerce consumers that all smartphones purchased on Kaspi.kz are verified by merchants.

e-Grocery GMV accounted for 6% of e-Commerce GMV in 1H 2025. e-Cars, accounted for 28% of e-Commerce GMV over the same period, while the remaining 66% of e-Commerce GMV is attributable to general goods.

e-Commerce’s take rate increased 120 bps and 130 bps year-over-year in 2Q and 1H 2025 to 12.5% for both periods, due to fast growth in both advertising and delivery revenue.

During 2Q 2025 m-Commerce GMV increased 7% year-over-year to KZT690 billion, while take rate was flat YoY at 9.0%. Modest GMV growth reflected lower demand for smartphones as well as the ongoing structural shift to e-Commerce. For 1H 2025, m-Commerce GMV increased 11% year-over-year to KZT1.4 trillion, with a 9.1% take rate. During 2Q and 1H 2025, m-Commerce purchases increased 1% year-over-year.

Kaspi Travel’s GMV increased 16% year-over-year to KZT149 billion during 2Q 2025. Kaspi Travel’s take rate increased by 50 bps year-over-year to 4.9%, due to growth in international Kaspi Tours. Tours accounted for 10% of Travel’s GMV in 1H 2025 and combined with the recent launch of domestic tours should help Travel’s GMV growth remain strong in the second half of 2025. For 1H 2025, Kaspi Travel’s GMV increased 19% year-over-year to KZT268 billion, with its take rate reaching 5.1%.

With Marketplace take rate up year-over-year and e-Grocery growing fast, 2Q and 1H 2025 Marketplace revenue grew faster than Marketplace GMV growth and was up 25% and 29% year-over-year respectively. For 2Q and 1H 2025 Marketplace revenue reached KZT211 billion and KZT412 billion respectively.

During 2Q 2025, Marketplace net income reached KZT88 billion, representing a 13% increase year-over-year. Net income growth below revenue growth reflects the ongoing impact of growth from lower margin 1P e-Grocery. For 1H 2025, Marketplace net income reached KZT173 billion, equivalent to a 16% increase year-over-year.

Fintech Platform

Revenue up 19% YoY & net income up 8% in 1H 2025

TFV up 17% but net income growth impacted by higher deposit costs

During 2Q 2025, TFV origination increased 17% year-over-year, to reach KZT2.9 trillion. For 1H 2025, TFV increased 17% year-over-year, to reach KZT5.5 trillion.

Buy-Now-Pay-Later (BNPL) loans accounted for 40% of TFV in 1H 2025, making them our most important Fintech Platform product. Merchant and Micro Business Finance is our fastest growing lending product, accounting for 18% of TFV during 1H 2025. We expect merchant related TFV to continue growing at a faster rate than the consumer related lending products.

Fintech yield trends were flat year-over-year-year in both the second quarter and first half of 2025. For 2Q and 1H 2025 are portfolio yield was 6% and 12% respectively.

Our average net loan portfolio increased by 33% year-over-year, to KZT6.2 trillion in 2Q 2025. Over the same period, average savings increased by 18% year-over-year to KZT6.4 trillion. For 1H 2025, average net loans and savings increased by 33% and 19% to KZT6.0 trillion and KZT6.4 trillion respectively. Our loan to deposit ratio increased to 95% in 1H 2025 up from 85% in the first half of 2024.

Having raised our main deposit rate and launched a range of consumer term deposits, we are once again prioritising growth in our saving base. The results of this became increasingly apparent over the second quarter, with month-over-month deposit growth improving compared with first quarter trends and total deposits reaching their highest level Ytd in June 2025.

During 2Q 2025, our cost of risk was flat year-over-year at 0.6%. Overall underlying credit trends remain strong and consistent, although higher interest rates necessitated additional macro provisioning in 1H 2025. For 2025 we expect cost of risk to be stable year over-year.

Our NPL ratio of 5.7% in 1H 2025 was slightly higher than 5.4% at the end of 2024 and should remain around this level for the remainder of the year.

Fintech revenue increased by 21% year-over-year to reach KZT371 billion during 2Q 2025. Fintech revenue growth is benefitting from healthy levels of origination and stable yield trends year-over-year. For 1H 2025, Fintech revenue increased 19% year-over-year to reach KZT714 billion.

In 2Q 2025, Fintech’s net income increased by 8% year-over-year to KZT82 billion, with growth impacted by higher deposit costs. Deposit cost of funding in the second quarter of 2025 increased 0.7% compared to the same period in 2024 and deposit interest expenses increased 26% year-over-year.

For 1H 2025, Fintech net income increased by 8% year-over-year to KZT159 billion.

Full-year 2025 guidance

Our full-year guidance remained unchanged.

Hepsiburada

In Türkiye, top-line growth improved after country wide retail disruption in March, while the year-over-year base was more favourable in the second quarter of 2025.

In Türkiye, EBITDA profitability improved significantly due to sales growth but was offset at the net income level by higher loan provisioning from Hepsiburada’s early-stage consumer credit products and other one-off expenses.

Hepsidburada’s 2Q and 1H 2025 financial results release can be accessed at: investor.hepsiburada.com

2Q & 1H 2025 Financial Results Conference Call

Monday, 4th August 2025 at 8.00am EST (1pm GMT, 5.00pm Astana time).

To pre-register for this call, please go to the following link:

https://www.netroadshow.com/events/login?show=e2d53416&confId=85354

You will receive access details via email.

Kaspi.kz consolidated financial statements

About Kaspi.kz

Kaspi.kz’s mission is to improve people’s lives by developing innovative mobile products and services. To deliver upon this we operate a unique two-sided Super App model – Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants.

Through these Super Apps consumers and merchants can access our leading Payments, Marketplace, and Fintech Platforms. All our services are designed to be highly relevant to users’ everyday needs and enable consumers and merchants to connect and transact between themselves.

The combination of a large, highly engaged consumer and merchant base, best-in-class, highly relevant digital products and a capex lite approach, results in strong top-line growth, a profitable business model and enables us to continue innovating, delighting our users and fulfilling our mission.

In January 2025, Kaspi.kz acquired a 66.35% stake in Hepsiburada, one of the leading e-commerce companies in Türkiye.

Harvard Business School has written two case studies on Kaspi.kz which it continues to teach to its MBA students.

Kaspi.kz has been listed on Nasdaq since January 2024.

Use of Key Financial & Operating Metrics

Certain parts of this press release contain our key financial and operating metrics, which we do not consider to be non-IFRS financial measures. We use these metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections and make strategic decisions. Our key operating metrics may be calculated in a manner different than similar key financial and operating metrics used by other companies. For definitions of our key financial and operating metrics please refer to “Other Key Financial and Operating Metrics” section of our latest 20-F.

Exchange Rate Calculations

The Kazakhstani tenge (KZT) to US dollar ($) exchange rate used by us for the presentation of certain financial, operating and other data denominated in tenge and included in this presentation is KZT519.64 per $1 as of 30 June 2025.

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of the U.S. federal securities laws, which statements relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “believe,” “may,”

“might,” “will,” “expect,” “estimate,” “could,” “should,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “prospective,” “continue,” “is/are likely to” or other similar expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. Therefore, you should not place undue reliance on these forward-looking statements. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, risks related to the following: our ability to attract sufficient new customers, engage and retain our existing customers or sell additional functionality, products and services to them on our platforms; our ability to maintain and improve the network effects of our Super App business model; our ability to improve or maintain technology infrastructure; our ability to successfully execute the new business model and reach profitability in certain of our operations; our ability to partner with sufficient new merchants or maintain relationships with our existing merchant partners; our ability to effectively manage the growth of our business and operations; developments affecting the financial services industry; our brand or trusted status of our platforms and Super Apps; our ability to retain and motivate our personnel and attract new talent, or to maintain our corporate culture; our ability to keep pace with rapid technological developments to provide innovative services; our ability to implement changes to our systems and operations necessary to capitalize on our future growth opportunities; changes in relationships with third-party providers, including software and hardware suppliers, delivery services, credit bureaus and debt collection agencies; our ability to compete successfully against existing or new competitors; our ability to integrate acquisitions, strategic alliances and investments and realize the benefits of such transactions; our ability to adequately obtain, maintain, enforce and protect our intellectual property and similar proprietary rights; risks related to Kazakhstan and the other countries in which we operate, including with regard to the evolving nature of the applicable legislative and regulatory framework and that of other jurisdictions in which we operate; our ability to obtain or retain certain licenses, permits and approvals in a timely manner; the significant influence of our existing shareholders and ability of ADS holders to influence corporate matters; differences between the rights of our shareholders, governed by Kazakhstan law and our charter, from the typical rights of shareholders under U.S. state laws; our ability to successfully remediate the existing material weaknesses in our internal control over financial reporting and our ability to establish and maintain an effective system of internal control over financial reporting; dependence on our subsidiaries for cash to fund our operations and expenses, including future dividend payments, if any; lack of protections for ADS holders compared to those afforded to shareholders of companies that are not “foreign private issuers;” the fact that the price of our ADSs might fluctuate significantly and that any future sales or ADSs or common shares may negatively impact the stock price; and risks related to other factors discussed under Item 3.D. “Risk Factors” in our Annual Report on Form 20-F filed with the U.S. Securities and

Exchange Commission on March 10, 2025 and our other SEC filings we make from time to time.

We operate in an evolving environment. New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can we assess the effect of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

For further information

David Ferguson, david.ferguson@kaspi.kz +44 7427 751 275