RatingJun 25, 2026, 01:13 AM
Freedom Holding Subsidiaries' S&P Ratings Upgraded to 'BB-'
AI Summary
S&P Global Ratings upgraded the ratings of several Freedom Holding Corp. subsidiaries, including Freedom Finance JSC and Freedom Bank Kazakhstan JSC, to "BB-" with stable outlooks, citing positive momentum in risk management. The company also reported record financial results for fiscal year 2026, with revenue reaching $2.19 billion and net income doubling to $153.3 million. Freedom Holding Corp. significantly expanded its client base across all segments, exceeding 14 million users in its digital ecosystem, and announced aggressive international expansion plans including investments in France and Turkey and the acquisition of 99.32% of Turkish Bank.
Key Highlights
- S&P Global Ratings upgraded several Freedom Holding Corp. subsidiaries to "BB-" with stable outlooks.
- Freedom Holding Corp.'s rating remained at "B-" with a stable outlook.
- Reported record revenue of $2.19 billion for fiscal year 2026.
- Net income doubled to $153.3 million.
- Bank service users doubled to 5.03 million.
- Brokerage client base grew 26% to 858,000 clients.
- Total digital ecosystem client base exceeded 14 million people.
- Plans to invest €500 million in France and $300 million in Turkey for expansion.
Price Impact
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