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Georgian Harvard Graduate Leading Kazakhstan Bank

Mikheil Lomtadze leads ”Kazakhstan Bank” since 2008. The Chief Executive Officer has introduced innovative ecosystems long time ago,which allows a client to pay taxes, purchase products at online-stores, compare prices and benefit loyalty programs.

According to the bank’s information,nowadays Kaspi system has 20% of non-food products, while the bank has the largest number of non-corporate customers in the country.

”We had a very simple aim at the beginning-to become the largest bank in retail customer’s direction. Then, we realized, we wanted to invent large and successful company but as importantly to establish a company which could change people’s lives. We saw people queuing to pay taxes and we decided to simplify this process by offering online payment system.

Mikheil Lomtadze got in ”Kazakhstan Bank” through his Investment Company who invested in ”Caspian Bank” in 2006. His former group mate from Harvard University offered him this opportunity, he traveled in Kazakhstan and found out that this could be the place to carry career path on.

There was a crisis in 2007. There was a need of quick and sharp solution which was Mikheil to become CEO.

”As for, online-store Kaspi.kz, idea came up based on my experience: I wanted to purchase laptop in the store, where they told me to come back tomorrow to get 10% off discount. I went to the store but that model was sold out. It took me time to find what I need in another shop. That’s why we created online-store where you can find any goods and save your time.”-says Mikheil Lomtadze.