Freedom Holding acquires Turkish Bank A.S
ASTANA. March 10 (Interfax) - Freedom Holding Corp.'s Freedom Finansal Hizmetler A.S. has signed an agreement to acquire 99.32% of Turkish Bank A.S., which is part of the Turkish Bank group, the holding company's press service told Interfax.
The selling parties are Ozyol Holding and the National Bank of Kuwait.
"The deal is for Turkish Bank A.S., a fully licensed bank operating in Turkey since 1982. Other Turkish assets of the Turkish Bank Group, as well as its banking units in the UK and Cyprus, are not part of the transaction," the press office said.
"This planned acquisition is another significant strategic step for Freedom Holding Corp. in Turkey, after Freedom Finansal Hizmetler obtained permission to establish the subsidiary brokerage company Freedom Yatirim. This underscores the Group's long-term commitment to expand its integrated financial services platform both in Turkey and the region as a whole," it said.
The transaction is subject to approval by Turkey's regulatory authorities.
Freedom Holding Corp. intends to support the further development and modernization of the bank's operations, including digital transformation initiatives, as well as expanding the product range focused on retail clients and small and medium-sized enterprises.
As part of its integration strategy, the company will focus on creating operational synergies, modernizing the technological base, and implementing innovative financial solutions tailored to customer needs.
Freedom Holding Corp., whose majority shareholder and founder is Timur Turlov, is registered in the United States and has divisions in more than 20 countries, including Kazakhstan, Cyprus, Poland, Spain, Uzbekistan and Azerbaijan. The corporation operates in the financial sector, including retail brokerage services, investment consulting, securities trading, market making, corporate investment banking, underwriting and insurance.
Freedom Holding Corp.'s net profit for the first 9 months of the 2026 fiscal year (April 1 - December 31, 2025) decreased 37.5% to $145.4 million.
