Freedom Holding Corp. announced that it has entered into an agreement to acquire 99.32 % of the shares of Turkish Bank A.Ş., a bank that has operated in Turkey since 1982. The sellers are Özyol Holding and the National Bank of Kuwait, and the deal excludes the TurkishBank Group’s divisions in the United Kingdom and Cyprus.
Turkish Bank A.Ş. serves a market of roughly 90 million people, making it an attractive platform for Freedom Holding’s strategy to build a digital financial ecosystem across emerging markets. The bank’s long‑standing presence and established customer base provide immediate access to a large retail and small‑to‑medium‑business customer base in Turkey.
The acquisition is part of Freedom Holding’s broader expansion plan, which has already included a presence in Tajikistan and announced plans for Georgia. By integrating the bank’s technology platform, Freedom Holding intends to broaden its product offering and strengthen its SuperApp footprint, positioning the company to deliver a unified digital banking experience to millions of users across its markets.
The transaction is subject to regulatory approval in Turkey, and Freedom Holding has indicated that it will invest in the bank’s technology infrastructure once approval is obtained. The company has not disclosed a specific deal value or a timeline for closing, but the regulatory process is expected to follow standard Turkish banking approval procedures.
Timur Turlov, CEO of Freedom Holding, said, “We are entering Turkey with our digital product and ecosystem, with our SuperApp at the center.” He added that acquiring a bank is a logical next step in expanding the holding’s presence in a market where the company sees significant long‑term growth potential.
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