Kazakh financial group Freedom Holding Corp. officially closed its acquisition of a controlling stake in Turkish Bank. The holding company’s press service announced the move on July 31, 2026. The lender has been renamed Freedom Bank A.Ş., and the company plans to use it as a base to deploy an integrated digital services ecosystem.
The deal was executed through the holding’s Turkish subsidiary, Freedom Finansal Hizmetler. Turkey’s Banking Regulation and Supervision Agency (BRSA) and the antitrust authority granted approvals on July 1. A month later, the company completed the transfer of a 99.32% stake previously held by Özyol Holding and National Bank of Kuwait.
The board of directors was updated alongside the name change. Freedom Holding partner Vladimir Pochekuev became chairman, while group founder and CEO Timur Turlov joined the board.
This marks Freedom Holding’s first expansion outside Central Asia with its own retail banking model. In Kazakhstan, the company built an ecosystem where traditional finance, brokerage services, and daily lifestyle features operate within a single app. Finteqstan previously reported that the holding is actively building the infrastructure for such products—for example, agreeing with Citi to build an artificial intelligence supercluster in Kazakhstan. Now, these developments must be adapted for a new market.
The Turkish banking sector is highly competitive and features advanced digital products. According to Turlov, local clients are already accustomed to high-quality service, which sets tough starting conditions for new players. Kazakh fintech is shifting from local dominance to direct technology export in markets with a high density of digital services.
In the coming years, the holding intends to focus on recapitalizing Freedom Bank A.Ş. and strengthening its technological base. Company leadership stated they are ready to invest management resources and capital with a planning horizon spanning several decades.
