Freedom Finance, operating under the Freedom Broker brand, plans to expand into the markets of Turkey and the United Arab Emirates (UAE) within the next year, according to Timur Turlov, CEO of Freedom Holding Corp.
«We plan to allocate 20% to 30% of our [Freedom Holding Corp.] annual revenue for these purposes. Our goal is to expand within the next year,» Turlov said in an interview with the Interfax Kazakhstan news agency.
However, he refused to provide an exact timeline for the move, underlying that it is hard to predict.
Freedom Finance is a professional broker and dealer in the securities market. The company operates offices in 14 cities across Kazakhstan, as well as in Bishkek, the capital city of Kyrgyzstan, and is a part of Freedom Holding Corp. listed in Nasdaq.
Freedom Holding Corp. reported $375 million in net income in the 2024 fiscal year, ended on March 31, 2024, and $149 million in revenue for the first six months of the 2025 fiscal year, which ended on Sept. 30, 2024, according to a financial statement by the company.
In January 2024, Freedom Bank announced its intention to open a branch office in Tajikistan; in mid-October, the bank obtained a banking license from the local regulator. Earlier this year, Aidos Zhumagulov, a member of the bank’s board of directors, revealed that Freedom Bank would offer its new clients a range of financial products such as deposit cards, cashback cards and investment cards.
In late December 2022, Turlov told Bloomberg that he was going to acquire a bank in one of the EU member states. At the time, Russian Frank Media reported, citing sources familiar with the matter, that the company’s top priority was Cyprus.
