Freedom Holding Corp. has completed the acquisition of a Turkish bank. On July 31, 2026, the transfer of a controlling stake in Turkish Bank A.Ş. to Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp., was completed. The financial institution has changed its name to Freedom Bank A.Ş., and the relevant resolution has been submitted to the Trade Registry for registration.
Details of the transaction and change of governing body
As part of the transaction, the shares held by Özyol Holding A.Ş. and National Bank of Kuwait, representing 99.32% of the bank’s share capital, were officially transferred to the holding. Immediately following the share transfer, a General Assembly meeting was held where the new board of directors was appointed.
Freedom Holding Corp. Partner Vladimir Pochekuev has been appointed as chairman of the board, which also includes Hikmet Cenk Eynehan, Furkan Evranos, Ayşe Hale Yıldırım and Freedom Holding Corp. CEO and Founder Timur Turlov.
Export of Kazakhstan’s fintech model
According to the group’s management, alongside its brand, Freedom will bring to Türkiye the concept of a comprehensive ecosystem of financial and lifestyle services centered around the bank.
«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,» Turlov stated.
Local market assessment
Vladimir Pochekuev, chairman of Freedom Bank A.Ş. board of directors, emphasized the strategic importance of the jurisdiction, calling Turkey «a geographic bridge between Europe and Asia.»
«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,» he said.
Hikmet Cenk Eynehan, board member and CEO of Freedom Bank A.Ş., in turn, highlighted Türkiye’s strong position in the banking industry.
«As of the end of 2025, the Turkish banking sector’s total assets had reached TRY 46.9 trillion. 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,» he said.
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.
Freedom Holding Corp. revealed its intention to enter the Turkish banking market on March 10, 2026, when the holding company announced its plan to acquire a local financial institution.
On July 1, 2026, Freedom Finansal Hizmetler A.Ş. (established in 2022) announced that it had received approvals from the Banking Regulation and Supervision Agency (BRSA) and the Turkish Competition Authority for the acquisition of 99.32% of the share capital of Turkish Bank A.Ş.
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).
