Freedom Holding Corp. Completes Acquisition of Turkish Bank
TURKISH BANK BECOMES FREEDOM BANK A.Ş. AS SHARE TRANSFER COMPLETED
The transfer of a controlling stake in Turkish Bank A.Ş. to Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp., a NASDAQ-listed international financial services group operating in more than 20 countries, has been completed. At the General Assembly Meeting, the Bank’s shareholders also appointed the new Board of Directors and resolved to change its trade name to Freedom Bank A.Ş. The relevant resolution has been submitted to the Trade Registry for registration.
Freedom Finansal Hizmetler A.Ş., established in 2022 as a wholly owned subsidiary of Freedom Holding Corp., previously announced that it had received approvals from the Banking Regulation and Supervision Agency (BRSA) and the Turkish Competition Authority on 1 July 2026 for the acquisition of 99.32% of the share capital of Turkish Bank A.Ş.
Following receipt of all required regulatory approvals and authorizations, the transfer to Freedom Finansal Hizmetler A.Ş. of the shares held by Özyol Holding A.Ş. and National Bank of Kuwait, representing 99.32% of the Bank’s share capital, was officially completed on 31 July 2026.
Following completion of the share transfer, the General Assembly held on 31 July 2026 resolved to change the Bank’s trade name to Freedom Bank A.Ş. The relevant resolution has been submitted to the Trade Registry for registration.
Alongside its brand, Freedom will bring to Türkiye the concept of a comprehensive ecosystem of financial and lifestyle services centred around the Bank. The acquisition provides the foundation for Freedom to introduce and scale this model in Türkiye.
Commenting on the completion of the transaction, Timur Turlov, Founder and Chief Executive Officer of Freedom Holding Corp., said:
“In Kazakhstan, we have built an ecosystem in which financial and everyday services operate within a single SuperApp, which has become the country’s fastest-growing digital service. We are now bringing this model to Türkiye, where customers already have high expectations of their banks, setting a high bar for us. Our task in the coming years is to strengthen the Bank’s capital and technological capabilities so that the ecosystem can grow rapidly around it. We are building this business with a time horizon measured in decades and are prepared to commit both capital and management resources to it.”
Timur Turlov has joined the Board of Directors of Freedom Bank A.Ş.
The General Assembly also appointed Vladimir Pochekuev, Partner at Freedom Holding Corp., as Chairman of the Board, and Hikmet Cenk Eynehan, Furkan Evranos and Ayşe Hale Yıldırım as members of the Board of Directors of Freedom Bank A.Ş.
The new Board provides an optimal balance of global and local expertise. It is precisely the combination of the Holding’s nearly 20 years of experience in global financial markets, its ready-to-deploy infrastructure and product solutions, and the deep understanding of the Turkish market that is expected to become one of the new bank’s key competitive advantages.
Commenting on the significance of Freedom Holding Corp.’s entry into the Turkish market, Vladimir Pochekuev, Chairman of the Board of Freedom Bank A.Ş., said:
“Türkiye holds particular importance within Freedom Holding Corp.’s global growth strategy. The country serves not only as a geographical bridge between Europe and Asia, but also as a strategic gateway connecting major financial markets. With 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 moving decisively forward with the development of our new platform in this strategically important market. The dynamism and sophistication of Türkiye’s financial ecosystem will further strengthen our global network.”
Commenting on Türkiye’s strong position in the banking industry, supported by its dynamic economy, advanced digital infrastructure and highly qualified workforce, Hikmet Cenk Eynehan, Board Member and Chief Executive Officer of Freedom Bank A.Ş., said:
“As of the end of 2025, the Turkish banking sector’s total assets had reached TRY 46.9 trillion. Our banking industry continues to strengthen its international position through its dynamic structure, rapid adoption of digital technologies and highly qualified human capital. The acquisition of Turkish Bank represents the clearest demonstration of our confidence in the potential of the Turkish market and the country’s economy. Our primary objective is to deliver a new banking experience that meets international standards for both retail and corporate customers, supported by our strong capital base and innovative financial solutions.”
The transaction is expected to further strengthen Freedom Holding Corp.’s position as one of the fastest-growing financial services groups across Eurasia, the Middle East and Central Asia, while reinforcing its long-term investment strategy in markets of strategic importance.
About
Freedom Finansal Hizmetler A.Ş. was established in 2022 as a wholly owned subsidiary of Freedom Holding Corp. The Company was established to participate in the incorporation of companies operating in banking, insurance, capital markets, payment systems, and other financial services, to provide capital support to such companies, and to invest in related financial instruments. In 2025, the Company obtained its establishment approval from the Capital Markets Board of Türkiye (CMB). Following the completion of the applicable regulatory requirements, Freedom Yatırım Menkul Değerler A.Ş. was incorporated to obtain its operating license.
Freedom Holding Corp. is an international financial services group headquartered in New York and operating in 21 countries. Its shares are traded under the ticker symbol FRHC on NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX), and the Company is regulated by the U.S. Securities and Exchange Commission (SEC). Freedom Holding Corp. is also a constituent of the Russell 3000 Index.
Contact Information:
Natalia Kharlashina
Head of Public Relations
prglobal@ffin.kz
+77013641454
SOURCE: Freedom Holding Corp.
Released July 31, 2026