Buy KSPI by Sep 10, 2026.

Kaspi is basically the dominant consumer-commerce, payments ecosystem in Kazakhstan. The company basicallyy has a monopoly on the consumer commerce with a 70% market share and and payment rail at 85% and over 90% card transaction penetration among consumer base Q1 2026 revenue grew 31% YoY and it’s expanding into Turkey through Hepsiburda and the stock trades around 7x earnings, which is basically EM bank multiples. Discounting the fact that's it's an EM stock, we could see multiples towards 10-12. …