Freedom Holding enters Turkey via Turkish Bank acquisition and brokerage license
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Freedom Holding Corp. acquired Turkish Bank A.Ş. and renamed it Freedom Bank A.Ş., completing the deal by late July. The group also obtained a brokerage license through Freedom Yatırım Menkul Değerler A.Ş. in mid-August. Founder Timur Turlov plans to invest about $300 million in Turkey, even as the company pursues a banking license in France and potential S&P 500 inclusion.
Key Facts
- Freedom Holding Corp. acquired 99.32% of Turkish Bank A.Ş. and renamed it Freedom Bank A.Ş. by late July.
- Freedom Holding obtained a brokerage license through Freedom Yatırım Menkul Değerler A.Ş. in the second half of August.
- Timur Turlov, founder and majority shareholder, announced plans to invest about $300 million in Turkey.
- Turkish Bank A.Ş. had assets of about 8.83 billion Turkish lira ($186 million) at the end of 2025 and ranked 46th by assets in Turkey.
- Freedom Holding filed for a banking license in France on June 1, 2026, with planned investments of €500 million over five years.
Turkish Market Entry
Freedom Holding Corp. completed the acquisition of Turkish Bank A.Ş. and renamed it Freedom Bank A.Ş. by late July. The group received a brokerage license through Freedom Yatırım Menkul Değerler A.Ş. in the second half of August. Both entities will launch as a financial super app, combining banking and investment services on one platform. Turkish Bank A.Ş. has operated in Turkey since 1982 and held assets of about 8.83 billion Turkish lira ($186 million) at the end of 2025. The bank ranks 46th by asset size in Turkey.
Investment and Expansion Plans
Timur Turlov, founder and majority shareholder of Freedom Holding, announced plans to invest about $300 million in the Turkish asset and expansion. Freedom Turkey aims to replicate the Freedom SuperApp model, which reached 5.67 million users in Kazakhstan. CEO H. Cenk Eynehan of Freedom Finansal Hizmetler A.Ş. stated the intention to combine the Turkish bank's history with Freedom's technology and expand the product range. Freedom Holding filed for a banking license in France on June 1, 2026, with planned investments of €500 million over five years to create a digital bank. The company also aims for inclusion in the S&P 500 index, which requires a market capitalization of $20.5 billion; its shares were added to the Russell 3000 index in autumn 2025.
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Freedom Holding enters Turkey via Turkish Bank acquisition and brokerage license
