ISTANBUL, TR / ACCESSWIRE / January 14, 2025 / Freedom Holding Corp., a Nasdaq-listed diversified financial services company, is establishing a new brokerage firm in Turkey. The Capital Markets Board of Turkey, the country's regulatory authority, has decided to grant a license to Freedom Financial Services Inc., a subsidiary of Freedom Holding, to establish the new brokerage company, Freedom Yatirim Menkul Degerler JSC.
At the end of 2024, the CEO and founder of Freedom Holding, Timur Turlov, announced the company's plans to enter the brokerage services market in Turkey during 2025.
Turlov stated that the company's advanced technology, which has been instrumental in its success in Europe-where it has attracted 320,000 customers-will be key to gaining market share in Turkey.
"By offering access to domestic and international markets, especially the U.S., we are confident that we can try to win in Turkey, especially thanks to our integrated mobile applications with banking services," said Turlov.
Freedom Holding Corp. is headquartered in Almaty, Kazakhstan, where it has already established its ecosystem model, integrating lifestyle platforms and financial services. This model could potentially serve as the foundation for developing a scalable international "everything application."
"For the people of Kazakhstan, Turkey is a brother nation," says Turlov.
It is expected that 20-30% of Freedom Holding's annual profit will be allocated for expansion in Turkey. The Holding reported record total revenues of $1.03 billion for the six months ended September 30, while its net profit for the same period amounted to $375 million.
About Freedom Holding Corp.
Freedom Holding Corp. is an international financial and investment services group specializing in capital markets, asset management, and brokerage services.
Freedom Holding Corp's common shares are registered with the United States Securities and Exchange Commission and trade on the Nasdaq Capital Market under the symbol FRHC. The Company has its principal market of operation in Kazakhstan and operates through its subsidiaries in 22 countries.
For media inquiries, please contact:
Natalia Kharlashina
PR Department, Freedom Holding Corp.
email: natalia.kharlashina@ffin.kz
SOURCE: Freedom Holding Corp
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