Condensed Financial Information - Parent Company Only

12 Months Ended

Dec. 31, 2024

Notes and other explanatory information [abstract]

Condensed Financial Information - Parent Company Only

27.

Condensed financial information - parent company only

As described in Note 25, the Bank must comply with NBRK’s capital requirements. Further, the Bank cannot lend more than 10% of Bank’s total capital to the Company, which restricts the use of the Bank’s net assets.

The Group performed a test on the restricted net assets of its bank subsidiary and concluded that the restricted net assets exceed 25% of the consolidated net assets of the Group as at 31 December 2023 and 2024.

The following is condensed financial information for the Company.

Condensed Statements of Profit or Loss and Other Comprehensive Income for the years ended 31 December 2022, 2023, and 2024


	2022			2023			2024

REVENUE		432,661			602,138			776,807
Dividend income from banking subsidiaries*		200,930			283,352			285,206
Dividend income from other subsidiaries*		213,819			296,700			467,500
Interest income		16,762			22,324			22,707
Other (losses) gains		1,150			(238	)		1,394

COSTS AND OPERATING EXPENSES		(21,173	)		(24,544	)		(20,826	)
General and administrative expenses		(20,818	)		(24,528	)		(20,810	)
Fee and commission expense		(355	)		(16	)		(16	)

NET INCOME BEFORE TAX		411,488			577,594			755,981

Income tax		(3,357	)		(3,705	)		(4,058	)

NET INCOME		408,131			573,889			751,923

OTHER COMPREHENSIVE INCOME		-			-			-

TOTAL COMPREHENSIVE INCOME		408,131			573,889			751,923

* Joint Stock Company Kaspi.kz directly holds 100% ownership interest in Kaspi Group JSC, the parent company of banking group and indirectly holds 98.95% ownership interest in Kaspi Bank JSC through Kaspi Group JSC. As allowed under IAS 27.10, the investment in banking subsidiaries and other subsidiaries were accounted for under the cost method. Using the equity method, the income in undistributed earnings of banking subsidiaries were KZT 7,252 million, KZT 8,607 million and KZT 11,030 million for 2022, 2023 and 2024, respectively, and the income in undistributed earnings of other subsidiaries were KZT 19,122 million, KZT 78,196 million and KZT 34,690 million for 2022, 2023 and 2024, respectively.

Condensed Statements of Financial Position as at 31 December 2023 and 2024


	2023			2024
ASSETS:
Cash and cash equivalents		200,484			324,993
Investments in banking subsidiaries*		171,107			171,107
Investments in other subsidiaries*		44,103			39,103
Other assets		894			1,352

TOTAL ASSETS		416,588			536,555

LIABILITIES:
Other liabilities		170			155

TOTAL LIABILITIES		170			155

EQUITY:
Issued capital		130,144			130,144
Treasury shares		(152,001	)		(151,521	)
Share-based compensation reserve		34,812			31,777
Retained earnings		403,463			526,000

TOTAL EQUITY		416,418			536,400

TOTAL LIABILITIES AND EQUITY		416,588			536,555

* Using the equity method, the investment in banking subsidiaries were KZT 208,824 million and KZT 221,293 million for 31 December 2023 and 2024, respectively, and the investment in other subsidiaries were KZT 77,624 million and KZT 204,620 million for 31 December 2023 and 2024, respectively.

In accordance with NBRK regulations, dividends paid by the Bank to the Company are subject to certain limitations.

Condensed Statements of Cash Flows For the Years ended 31 December 2022, 2023, and 2024


	2022			2023			2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Interest income received		14,221			18,991			19,303
Fees and commissions paid		(355	)		(16	)		(16	)
Other income received		-			41		-
General and administrative expenses paid		(835	)		(3,669	)		(3,548	)

Cash flows from operating activities before changes in operating assets and liabilities		13,031			15,347			15,739

Changes in operating assets and liabilities
Other assets		(378	)		426			(821	)
Other liabilities		46			80			(14	)

Cash inflow from operating activities before income tax		12,699			15,853			14,904

Income tax paid		(594	)		(539	)		(587	)

Net cash inflow from operating activities		12,105			15,314			14,317

CASH FLOWS FROM INVESTING ACTIVITIES:
Dividends received from subsidiaries		414,749			580,052			752,706
Sale of investments in subsidiaries		-			-			5,000
Purchase of investments in subsidiaries		(16,251	)		-			-

Net cash inflow from investing activities		398,498			580,052			757,706

CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid		(210,102	)		(560,132	)		(646,056	)
Purchase of treasury shares		(63,672	)		(60,703	)		(2,852	)

Net cash outflow from financing activities		(273,774	)		(620,835	)		(648,908	)

Effect of changes in foreign exchange rate on cash and cash equivalents		1,150			(279	)		1,394

NET (DECREASE)/ INCREASE IN CASH AND CASH EQUIVALENTS		137,979			(25,748	)		124,509

CASH AND CASH EQUIVALENTS, beginning of period		88,253			226,232			200,484

CASH AND CASH EQUIVALENTS, end of period		226,232			200,484			324,993