Freedom Holding Acquires 99.32% Stake in Turkish Bank A.S.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 11 2026
0mins
Freedom Holding has announced an agreement to acquire 99.32% of the shares in Turkish Bank A.S. The sellers are Ozyol Holding and the National Bank of Kuwait. The transaction is subject to approval by the relevant regulatory authorities in Turkey. The parties had previously announced their intention to conclude the deal, but the key parameters have now been disclosed, including the size of the stake being acquired. The purchase of the bank provides Freedom Holding Corp. with direct access to Turkey's banking market, which serves a population of around 90 million people, and represents an important stage in the development of the group's ecosystem in the Turkish market. The transaction includes only Turkish Bank A.S., which has been operating in Turkey since 1982. The TurkishBank Group's divisions in the United Kingdom and Cyprus are not part of the deal. Following the completion of the transaction, Freedom plans to invest in the bank's technological modernization, accelerate its digital transformation, and expand its product offering with a focus on retail customers as well as the small and medium-sized business segment.
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About FRHC
Freedom Holding Corp. is a holding company. The Company, through its subsidiaries, provides services, including securities brokerage, securities dealing for customers and for its own account, market making activities, investment research, investment counseling, investment banking services, retail and commercial banking, insurance products, payment services, and information processing services. The Company operates through four segments: Brokerage, Banking, Insurance, and Other. Its Brokerage segment primarily focuses on retail brokerage and investment banking. Its Banking segment encompasses lending, deposit services, payment card services, money transfers, and correspondent accounts, supporting both individual and corporate clients with digital financial solutions. Its Insurance segment offers life and general insurance services. Its Other segment includes payment processing services, online ticket sales, and new business areas including telecommunications and media services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- International Issuance Strategy: The offering will be conducted outside the United States under Regulation S of the Securities Act of 1933, reflecting the company's intent to expand in global markets while mitigating the complexities of U.S. securities registration and compliance risks.
- Forward-Looking Statements: The announcement includes forward-looking statements that express the company's expectations and confidence regarding the offering, while also highlighting potential risks and uncertainties, urging investors to carefully assess possible market fluctuations.
- Compliance Considerations: This offering does not constitute an invitation to U.S. investors for securities purchase and has not been registered in the U.S., demonstrating the company's commitment to legal compliance and maintaining its reputation in the financial markets.
See More
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- Regulatory Compliance: The offering will be conducted outside the United States under Regulation S of the U.S. Securities Act of 1933, suggesting the company is seeking funding support in international markets, which may attract more overseas investors.
- Completion Uncertainty: Freedom Holding has indicated that there can be no assurance that the offering will be completed, reflecting the uncertainty in the market environment that could impact investor confidence.
- Undisclosed Share Count: The company did not disclose the number of shares to be sold, which may lead to investor concerns regarding the scale of the offering and potential dilution effects, influencing the market's short-term reaction to the stock.
See More
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- Asset Scale Increase: As of March 31, 2026, total assets reached $13.16 billion, a 33% increase from the previous year, supported by growth in the company's investment portfolio and higher customer balances in brokerage accounts, further solidifying its market position.
- Strategic Investments and Partnerships: Freedom Holding Corp announced a strategic agreement with the Government of Kazakhstan and OpenAI to invest $2 billion in establishing AI infrastructure, which is expected to enhance the company's competitiveness in digital transformation and drive business innovation.
See More
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- Steady Revenue Increase: The company's revenue rose by 9.3%, from $2.004 billion last year to $2.191 billion, reflecting ongoing business expansion and improved market demand, thereby strengthening its market position.
- Enhanced Profitability: The EPS increased by 99.2% compared to last year, demonstrating the company's success in cost control and operational efficiency, which provides higher return expectations for future investors.
- Increased Market Confidence: With both profit and revenue growth, Freedom Holding Corp.'s financial performance has bolstered market confidence in its future development, potentially attracting more investor interest in its stock.
See More
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See More
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- Revenue Growth: The company reported revenue of $2.19 billion, reflecting a 9.5% year-over-year increase, primarily driven by successful strategies in market expansion and customer base growth, further solidifying its market position.
- Investment Appeal: With ongoing improvements in financial performance, analysts generally view Freedom Holding as a compelling investment choice, anticipating continued interest from investors in the future.
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See More
