Freedom Holding Corp. received final regulatory approval from Turkey’s Banking Regulation and Supervision Agency and the Turkish Competition Authority. This allows the company to finalize its acquisition of a 99.32% stake in Turkish Bank A.Ş.
The transaction involves only the domestic operations of Turkish Bank. CEO Timur Turlov intends to use the acquisition to establish an integrated digital financial ecosystem within the Turkish market.
The company plans to replicate its Kazakhstan business model by combining banking, payments, and investment services on a single platform. Freedom Holding expects to follow the closing with significant investments in digital transformation.