AcquisitionsJul 1, 2026, 11:57 AM
Freedom Holding Subsidiary Gets Approval for Turkish Bank Acquisition
AI Summary
Freedom Holding Corp.'s subsidiary, Freedom Finansal Hizmetler A.Ş., received approval from Türkiye’s Banking Regulation and Supervision Agency (BRSA) and Competition Authority to acquire 99.32% of Turkish Bank A.Ş. This acquisition is a significant step in Freedom Holding Corp.'s strategy to build integrated financial services platforms in growth markets like Türkiye. The company plans to replicate its successful digital ecosystem model from Kazakhstan, where its Freedom SuperApp has reached 5.67 million users, and is also establishing a brokerage business in Türkiye. Additionally, Freedom Holding Corp. intends to invest approximately €500 million in developing its digital ecosystem in France.
Key Highlights
- Turkish regulators approved Freedom Finansal Hizmetler's acquisition.
- Freedom Finansal Hizmetler A.Ş. to acquire 99.32% of Turkish Bank A.Ş.
- Turkish Bank A.Ş. will integrate into Freedom Holding's Türkiye platform.
- CEO plans to replicate Kazakhstan's digital ecosystem model (5.67M users).
- Company aims to invest approximately €500 million in France for digital ecosystem.
- Freedom Holding is also establishing a brokerage business in Türkiye.
- Acquisition supports expansion in selected growth markets.
Price Impact
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