Freedom Holding Corp. has received Turkish regulatory approval to acquire 99.32% of Turkish Bank.
Freedom Finansal Hizmetler, a subsidiary of Nasdaq-listed Freedom Holding Corp., has announced that Türkiye's Banking Regulation and Supervision Agency (BRSA) and the Competition Authority of Türkiye have approved its planned acquisition of 99.32% of the share capital of Turkish Bank. Freedom Holding operates as a diversified financial services group across more than 20 countries.
The BRSA approval represents a step toward completing the transaction and supports Freedom Holding's stated strategy of building integrated financial services platforms in selected growth markets. Turkish Bank will, upon closing, join the group's regional operations in Türkiye alongside its existing brokerage, investment, and capital markets businesses.
Following completion, Turkish Bank will continue to operate under Turkish regulatory supervision while gaining access to Freedom's digital financial services capabilities, technology-driven distribution, and product development expertise.
According to Timur Turlov, founder and chief executive officer of Freedom Holding Corp., the company aims to replicate in Türkiye a model it has already applied in Kazakhstan, where the Freedom SuperApp reached 5.67 million users within under two years of launch by combining financial services with digital products on a single platform. Turlov noted that the potential client base in Türkiye could be four to five times larger than in Kazakhstan.
Broader regional strategy
The approval also comes as Freedom Holding is in the final stage of establishing a brokerage business in Türkiye. Final authorisation from the Capital Markets Board of Türkiye would allow the group to expand its financial products and services for retail, affluent, and high-net-worth clients, as well as small and medium-sized businesses and corporate clients.
In addition, the bank is expected to support deeper integration of banking, capital markets, insurance, and cross-border financial solutions within Freedom's regional operations. The company has indicated that the model could, over time, extend into non-financial services such as ecommerce, telecommunications, and lifestyle offerings.
H. Cenk Eynehan, chief executive officer of Freedom Finansal Hizmetler A.Ş., said the transaction would allow the company to combine the market position of an established Turkish banking institution with Freedom's technology and international expertise, with priorities including product expansion and improved client accessibility.
Wider international footprint
Freedom Holding's banking operations already extend to Tajikistan. In November 2025, the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market approved the company's plan to establish a bank in Georgia. In early June 2026, Freedom Holding submitted an application to the French regulator for a banking licence, with Turlov indicating plans to invest approximately EUR 500 million in developing the company's digital ecosystem in France.
The transaction is expected to expand Freedom Holding's presence across Eurasia, the Middle East and Central Asia, forming part of the group's longer-term investment strategy in selected growth markets. The integration process following completion will focus on technology infrastructure, client experience and cooperation among the group's Turkish business lines.
