Freedom Holding Corp said on July 31 it completed the acquisition of 99.32 percent of Turkish Bank A.S. [1]. The sellers were affiliates of Ozyol Holding and National Bank of Kuwait [1].
The deal arrived fully papered on the regulatory side. Turkey's banking regulator, the BRSA, approved it, and so did the country's competition authority [1]. The bank is being renamed Freedom Bank A.S. [1].
"We are now bringing this model to Turkiye," said CEO Timur Turlov, referring to the retail financial-services model the Nasdaq-listed group built in Kazakhstan and has been extending across its markets [1].
One number is absent from the completion announcement: the price. The company did not disclose what it paid for the stake [1].
The omission is worth sitting with. Freedom Holding is a US-listed public company, and the purchase of essentially an entire foreign bank is the kind of transaction shareholders would normally price against the acquirer's balance sheet. Without the figure, the public record of this deal consists of the percentage, the approvals, and the new name. Whether the group paid a premium for the license and the branch network, or picked up the bank cheaply from sellers ready to exit, is not knowable from what was published, and the eventual accounting will surface only in later filings.
What is on the record is the strategic fact: a group rooted in Kazakh retail brokerage now owns a Turkish bank outright, under its own brand, with the host country's regulators signed off [1].
