FREEDOM HOLDING CORP. TO PURCHASE 99.32% INTEREST IN TURKISH BANK A.Ş.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 hours ago
0mins
Should l Buy FRHC?
Source: moomoo
Acquisition Announcement: Freedom Holding Corp. has announced its intention to acquire a 99.32% stake in Turkish Bank A.Ş.
Strategic Move: This acquisition is part of Freedom Holding's strategy to expand its operations and presence in the Turkish financial market.
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Analyst Views on FRHC
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.

Deal Overview: Freedom Holding Corp has finalized a deal that exclusively involves Turkish Bank A.Ş.
Exclusions: The agreement specifically excludes UK and Cyprus divisions from the transaction.
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Acquisition Announcement: Freedom Holding Corp. has announced its intention to acquire a 99.32% stake in Turkish Bank A.Ş.
Strategic Move: This acquisition is part of Freedom Holding's strategy to expand its operations and presence in the Turkish financial market.
See More
- Shift4 Payments Bulk Purchase: Jared Isaacman purchased 296,237 shares of FOUR at $46.11 each for a total of $13.66 million on Friday, indicating confidence in the company's growth while providing investors an opportunity to enter at a lower price.
- Market Reaction Analysis: Despite Isaacman's purchase signaling positivity, FOUR traded down about 1% on Monday, with shares at $43.36, reflecting a 6.0% discount from his purchase price, indicating market caution.
- Freedom Holding Insider Trading: Sergey Lukyanov bought 20,000 shares of FRHC at $120.52 each for a total of $2.41 million on Wednesday, suggesting optimism about the company's future performance.
- Historical Trading Comparison: Prior to this transaction, Lukyanov had purchased FRHC on two other occasions in the past year, totaling $1.98 million at an average price of $157.21, demonstrating his sustained interest and confidence in the stock.
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- Significant Asset Growth: As of December 31, 2025, Freedom Holding Corp's total assets reached $12.38 billion, a 25% increase from $9.91 billion at the end of the previous fiscal year, indicating successful expansion of the company's investment portfolio and increased client balances in brokerage accounts, thereby enhancing financial stability.
- Strong Cash Flow Performance: During the nine months ending December 2025, net cash provided by operating activities totaled $1.73 billion, primarily driven by growth in customer funds and a reduction in margin-related balances, demonstrating effective liquidity management by the company.
- Diversified Revenue Streams: Total revenue for the third quarter of 2025 was $628.6 million, with total revenue for the nine-month period amounting to $1.69 billion, sourced from interest income, brokerage and commission revenues, and insurance premiums, reflecting the company's stability amid fluctuating market conditions.
- Customer Base Expansion: The number of banking customers increased from 2.5 million to 4.5 million, while brokerage customers grew by over 20%, supported by expanded digital offerings and the development of the financial ecosystem, indicating the company's sustained competitiveness and customer appeal in the market.
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- Significant Asset Growth: As of December 31, 2025, Freedom Holding Corp's total assets reached $12.38 billion, a 25% increase year-over-year, primarily driven by the expansion of the company's investment portfolio and increased client balances in brokerage accounts, thereby enhancing financial stability.
- Strong Cash Flow Performance: For Q3 FY2026, the company reported a net income of $76.2 million with diluted earnings per share of $1.25, indicating sustained profitability under a diversified revenue model, which is expected to further enhance shareholder returns.
- Customer Base Expansion: During the reporting period, the number of banking customers surged from 2.5 million to 4.5 million, an 80% increase, while the brokerage customer base grew by over 20%, demonstrating the company's success in digital service offerings and financial ecosystem development.
- Global Technology Partnerships: Freedom Holding Corp's collaborations with global tech giants like NVIDIA, Amazon, and Microsoft have propelled its SuperApp to become the most downloaded application in Kazakhstan, with plans for expansion into additional markets to strengthen competitive positioning.
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- Earnings Per Share: Freedom Holding reported a GAAP EPS of $1.25 for Q3, indicating stability in profitability despite a year-over-year decline, reflecting the company's resilience amid market fluctuations.
- Revenue Decline: The company's revenue for the third quarter was $628.62 million, down 5.4% year-over-year, which may raise investor concerns about future growth, particularly in a competitive environment.
- Customer Growth: As of December 31, 2025, brokerage customers totaled 828,000, an increase of 145,000 over the past nine months, demonstrating the company's success in attracting new clients and enhancing its market share.
- Banking Customer Increase: The number of banking customers rose to 4.5 million, an increase of 2 million, indicating significant success in the company's expansion strategy within the financial services sector, further solidifying its position in the industry.
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