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ALMATY, Feb 27 (Reuters) - Kazakh Kaspi.kz financial and technology group’s net income rose to 197.1 billion tenge ($525 million) in 2019 from 111.1 billion tenge a year earlier, it said on Thursday, setting the stage for a potential London float.

Kaspi.kz, which owns one of Kazakhstan’s largest banks, may in the coming weeks revive plans for a London Stock Exchange listing, aiming to raise $500-700 million, sources familiar with the plans told Reuters this week.

“We continue to monitor market conditions closely in relation to our potential initial public offering, following our announcement to postpone the transaction in October 2019,” Kaspi.kz’s statement quoted Chief Executive Mikheil Lomtadze as saying.

Kaspi.kz whose business also includes e-commerce platforms and a payments system pulled its listing last year after investors balked at the valuation.

However, a source said the company had told potential investors during roadshows that it expected full-year numbers to support its aspirations for a better valuation than its current $2.4 billion market capitalisation on the Almaty bourse.

The group’s revenue jumped 37% last year, and while income from marketplace and payments segments rose at a faster pace, 78% of revenue and 72% of profit came from what Kaspi.kz describes as the fintech segment.

The latter includes interest income from borrowers as well as banking fees and commission, Kaspi.kz said in its financial report, while underscoring its plans to further diversify its revenue stream.

“We are particularly pleased to see the share of consolidated net income from our Payments and Marketplace Platforms reach 28%, up from 19% in 2018, in line with our goal for these platforms to contribute a majority of our profits in the medium-term,” Lomtadze said. (Reporting by Olzhas Auyezov; editing by David Evans)