Freedom Holding Corp. has agreed to acquire a controlling stake in TurkishBank Group’s Turkish operations. Its Turkish subsidiary, Freedom Finansal Hizmetler AS, will purchase 99.31% of the bank’s capital. The sellers include Ozyol Holding and the National Bank of Kuwait. The transaction awaits regulatory approvals.
The acquisition provides Freedom Bank with access to a new corporate client base in the Turkish market. Freedom Holding raised approximately $600 million through bond issuances to fund its expansion into new sectors. The company completed this capital raise in 2025.
CEO Timur Turlov described the entry into Türkiye as a logical next step for the financial group. The parties have not disclosed the specific financial terms of the deal.