Freedom Holding acquires 99.32% stake in Turkish Bank A.Ş. for $33.4 million
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Freedom Holding Corp. acquired a 99.32% stake in Turkish Bank A.Ş. for $33.4 million through its subsidiary Freedom Financial Hizmetler, closing the deal on July 31. Shareholders approved a new board of directors and the bank’s renaming to Freedom Bank A.Ş. The holding is now integrating the lender with its existing Turkish operations.
The Acquisition
Through its subsidiary Freedom Financial Hizmetler Anonim Sirketi, Freedom Holding acquired approximately 99.32% of shares in Turkish Bank A.Ş. for $33.4 million. Turkey’s Banking Regulation and Supervision Agency (BRSA) and Competition Authority approved the purchase in July 2026. The deal, closed on July 31, excludes TurkishBank Group’s operations in the United Kingdom and the Turkish Republic of Northern Cyprus.
Integration and Rebranding
Shareholders approved a new board of directors and the renaming of the bank to Freedom Bank A.Ş. Freedom Holding said integration will prioritize technological infrastructure, customer experience enhancement, new product development, and operational consolidation with all Turkish subsidiaries. The holding had previously announced plans for a brokerage in Turkey and a commercial bank in Georgia.
What's Next
The integration of Freedom Bank A.Ş. into the holding’s Turkish operations is set to begin, with a focus on technology and new products. It remains unclear how the bank will compete in Turkey’s crowded market or when Freedom’s broader expansion into France and Pakistan will advance past regulatory stages.
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Freedom Holding acquires 99.32% stake in Turkish Bank A.Ş. for $33.4 million
