Freedom Holding Corp. has completed the acquisition of a Turkish asset. On July 31, 2026, the holding's subsidiary (Freedom Finansal Hizmetler A.Ş.) took control of Turkish Bank A.Ş. The financial institution has been renamed Freedom Bank A.Ş., and the relevant decision has been sent to the Trade Registry for registration. This was reported by Qazaqyia.kz citing Kursiv Media.
As part of the transaction, the holding received 99.32% of the bank's share capital, which previously belonged to structures of Özyol Holding A.Ş. and National Bank of Kuwait. Immediately after the transfer of shares, a general shareholders' meeting was held, at which a new board of directors was elected.
Vladimir Pochekuev, a partner of Freedom Holding Corp., was appointed Chairman of the Board of Directors of the new bank. The board also includes Hikmet Cenk Eynehan, Furkan Evranos, Ayşe Hale Yıldırım, and the founder of Freedom Holding Corp., Timur Turlov.
According to the group's management, the Turkish asset will serve as the basis for a comprehensive ecosystem of financial and everyday services, with the bank at its core.
"In Kazakhstan, we created an ecosystem where financial and everyday services operate within a single superapp, which has become the fastest-growing digital service in the country. Now we are bringing this model to Turkey, where clients already have high expectations for their banks, setting a high bar for us. Our task for the coming years is to strengthen the bank's capital and technological capabilities so that an ecosystem can quickly develop around it," said Timur Turlov, CEO of Freedom Holding Corp.
Vladimir Pochekuev, Chairman of the Board of Directors of Freedom Bank A.Ş., noted the strategic importance of the jurisdiction, calling Turkey "a geographical bridge between Europe and Asia."
"Turkey holds a special place in Freedom Holding Corp.'s global growth strategy. The country is not only a geographical bridge between Europe and Asia but also a strategic gateway connecting major financial markets. After the completion of the share transfer, the appointment of the new board of directors, and the change of the bank's corporate name, we are resolutely moving forward in developing our new platform in this strategically important market. The dynamism and high level of development of Turkey's financial ecosystem will contribute to the further strengthening of our global network," he said.
Hikmet Cenk Eynehan, CEO of Freedom Bank A.Ş., in turn, pointed out the high capital intensity of the local banking sector.
"As of the end of 2025, the total assets of Turkey's banking sector reached 46.9 trillion Turkish liras. The acquisition of Turkish Bank is the most convincing confirmation of our confidence in the potential of the Turkish market and the country's economy. Our main goal is to offer retail and corporate clients a new banking experience," the bank's head summarized.
The entry into the Turkish market is expected to further strengthen Freedom Holding Corp.'s position in the macro-region of Eurasia, Central Asia, and the Middle East.
Freedom Holding Corp.'s plans to enter Turkey's banking market became known on March 10, 2026, when the holding first announced its intention to acquire a local financial institution.
On July 1, 2026, the holding's subsidiary (established in 2022) received all necessary regulatory approvals from Turkey's Banking Regulation and Supervision Agency (BRSA) and the Turkish antitrust authority to acquire 99.32% of Turkish Bank A.Ş.'s share capital.
Freedom Holding Corp. is an international financial group headquartered in New York, operating in 21 countries worldwide. The holding's shares are traded on NASDAQ, KASE, and AIX exchanges, and its activities are strictly regulated by the U.S. Securities and Exchange Commission (SEC).