15 Best New Tech Stocks To Invest In

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6. Kaspi.kz (NASDAQ:KSPI)

Market Capitalization as of January 21: $17.6 billion

Number of Hedge Fund Holders: 26

Kaspi.kz (NASDAQ:KSPI) is a digital platform in Kazakhstan that offers a one-stop shop for payments, online shopping, and financial services. It connects consumers and merchants through a user-friendly app. This facilitates payments, marketplace transactions, and access to financial products like BNPL (buy now, pay later) and loans.

Its Fintech segment demonstrated strong growth in Q3 2024, with revenue up 24% and net income up 15% year-over-year. This is attributed to a reduction in interest rates and the increasing impact of AI-driven advancements. AI-powered risk assessment and credit scoring models are also enabling this growth. These models lead to increased loan origination while maintaining a stable cost of risk. Loan portfolio grew by 39% year-over-year in the third quarter. This outpaced deposit growth of 25%, which resulted in a higher loan-to-deposit ratio of 8%.

Fintech is poised for continued growth, with revenue projected to increase by ~20% for the full year. Continued advancements in AI, coupled with the ongoing impact of lower funding costs, are expected to enhance profitability in the coming quarters.

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