Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp. (FRHC), has completed the acquisition of Turkish Bank, according to FRHC CEO Timur Turlov.
"We have officially completed the deal to purchase the Turkish bank, and now the holding has Freedom Bank A.Ş.," he wrote on social media.
"This is a very significant event for us. In Kazakhstan, we created an ecosystem where financial and everyday services work within a single superapp (...). It is this model that we are bringing to Turkey. In this market, clients actually have very high demands on their banks, which sets a high bar for us," the businessman noted.
According to Turlov, the task for the coming years is to "strengthen the bank's capital and technological capabilities so that the Freedom ecosystem can develop rapidly around it." "Having studied the Turkish market well, I am now confident that our business will be useful and relevant for this country," he said.
Earlier, it was reported that a subsidiary of Freedom Holding had received approval from Turkish financial regulators to purchase Turkish Bank, one of Turkey's reputable banks founded in 1982. It was reported that after the acquisition, Turkish Bank A.Ş. would continue to operate under the supervision of relevant Turkish regulatory authorities and would be able to use Freedom's expertise in digital financial services, modern sales and service channels, and the development of customer-oriented products.
The purchase agreement was signed in February 2026, and the subject of the transaction is exclusively Turkish Bank A.Ş. The divisions of TurkishBank Group in the UK and the Turkish Republic of Northern Cyprus, as well as other assets of the group, are not included in the transaction.