Freedom Holding Corp. Receives BRSA and Turkish Competition Authority Approval to Acquire Turkish Bank

July 1, 2026

Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp. (FRHC), Receives Regulatory Approvals to Acquire Turkish Bank A.Ş.

Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp. (FRHC), today announced that it has received approvals from the Banking Regulation and Supervision Agency of Türkiye (BRSA) and the Turkish Competition Authority for the acquisition of a 99.32% stake in Turkish Bank A.Ş.

The approvals from BRSA and the Competition Authority represent an important milestone toward the completion of the transaction, which forms part of FRHC's long-term strategy to build a fully integrated financial services ecosystem across key emerging markets.

Upon completion of the transaction, Turkish Bank A.Ş., one of Türkiye's well-established banks with a history dating back to 1982, will become a key component of the holding's expanding regional platform, complementing its existing brokerage, investment banking, and capital markets businesses.

Following the acquisition, Turkish Bank A.Ş. will continue operating under the supervision of the relevant Turkish regulatory authorities while leveraging Freedom's expertise in digital financial services, modern sales and customer service channels, and customer-centric product development.

Under the Share Purchase Agreement (SPA) signed in February 2026, the transaction covers only Turkish Bank A.Ş. The banking subsidiaries of TurkishBank Group in the United Kingdom and the Turkish Republic of Northern Cyprus, as well as the group's other assets, are excluded from the scope of the acquisition.

Timur Turlov, Chief Executive Officer of Freedom Holding Corp., commented:

"Türkiye is a strategic market for Freedom, and we are entering it with a clear vision of what we want to build. In Kazakhstan, we have already demonstrated that a digital ecosystem can become an integral part of people's everyday lives. In less than two years since its launch, Freedom SuperApp has grown to 5.67 million users, becoming the fastest-growing digital service in the country. We have successfully combined financial services with advanced digital products on a single platform, where they naturally complement and reinforce one another. This is the experience we intend to bring to the Turkish market, where the potential customer base is four to five times larger than Kazakhstan's. Acquiring the bank provides us with the foundation to scale a business model that has already proven successful, and the BRSA approval marks an important step toward launching it in one of the world's most dynamic markets".

These regulatory approvals also coincide with the final stage of establishing Freedom's brokerage business in Türkiye. Receipt of the final authorization from the Capital Markets Board of Türkiye (CMB) to conduct brokerage activities will significantly expand the holding's ability to provide financial products and services to retail clients, affluent and high-net-worth individuals (HNWIs), small and medium-sized enterprises, and corporate clients within a unified financial ecosystem.

Over the long term, the bank is expected to become one of the key pillars of Freedom's regional strategy by enabling closer integration of banking services, capital markets solutions, insurance products, and cross-border financial services. In the future, the ecosystem model may also be expanded to include a broad range of non-financial services, including e-commerce, telecommunications, and lifestyle services.

Following completion of the transaction, the integration process will begin, with primary focus on enhancing the technological infrastructure, improving the customer experience, developing new products, and ensuring operational integration across all of Freedom's Turkish businesses. This will further strengthen the holding's position as one of the fastest-growing financial services groups across Eurasia, Central Asia, and the Middle East, while reaffirming its commitment to long-term investment in strategically important markets.

 

About the Company

Freedom Holding Corp. is a diversified financial services company engaged in brokerage, securities trading, investment research and advisory services, investment banking and underwriting, mortgage lending, insurance, telecommunications, online sales of airline tickets and tickets for cultural and sporting events, online supermarket services, and many other businesses. Including its subsidiaries, Freedom Holding Corp. employs more than 11,800 people. The holding operates through subsidiaries and representative offices in 22 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and others. Freedom Holding Corp.'s common shares are registered with the U.S. Securities and Exchange Commission and trade on the Nasdaq Capital Market under the ticker symbol FRHC.

Media Contact: [email protected]

Website: www.freedomholdingcorp.com