Freedom Holding subsidiary secures Turkish regulator's approval to buy Turkish BankFreedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp. (FRHC), has received approval from Turkey's Banking Regulation and Supervision Agency (BRSA) and the Competition Authority to acquire 99.32% of Turkish Bank A.Ş., the holding company said.The approvals mark a key step toward closing the deal, the company said."Following the completion of the transaction, Turkish Bank A.Ş., one of Turkey's reputable banks with a history dating back to 1982, will become a key element of the holding's expanding regional platform, complementing its brokerage, investment and capital markets operations," the statement said.Turkish Bank will continue operating under Turkish regulatory oversight and will leverage Freedom's expertise in digital financial services, modern sales and servicing channels, and customer-focused product development, the company said.Under the share purchase agreement signed in February 2026, the deal covers only Turkish Bank A.Ş. The TurkishBank Group's banking units in the UK and the Turkish Republic of Northern Cyprus, along with other group assets, are not included in the transaction."In the long term, the bank is expected to become a key part of Freedom's regional strategy, with the ecosystem model potentially expanding to include non-financial services such as e-commerce, telecommunications and lifestyle services," the statement said.Freedom Holding Corp. founder and CEO Timur Turlov said the company aims to build a digital ecosystem in Turkey similar to the one it has developed in Kazakhstan.The approvals coincide with the final stages of establishing Freedom's brokerage business in Turkey. A final license from Turkey's Capital Markets Board will allow the holding to significantly expand its financial products and services across a unified ecosystem, serving retail, affluent and high-net-worth clients, small and medium-sized businesses, and corporate clients.Freedom Holding Corp., majority-owned and founded by Timur Turlov, is incorporated in the U.S. and operates in more than 20 countries, including Kazakhstan, Cyprus, Poland, Spain, Uzbekistan and Azerbaijan. The corporation offers retail brokerage, investment advisory, securities trading, market-making, corporate investment banking, underwriting and insurance. (ICE ALMATY)

Fonte notizia: INTERFAX