THE FREEDOM HOLDING’S GLOBAL EXPANSION DRIVES THE STOCK HIGHER
Shares of Freedom Holding Corp. jumped nearly 16% in March, lifting the company’s market value to almost $8.9 billion and increasing founder and CEO Timur Turlov’s personal wealth by $828 million. The rally continued into early April, pushing the market cap past $9 billion and Turlov’s net worth over $6 billion. The gains are driven by Freedom Holding’s international expansion, strong ratings from major agencies, and investor confidence.
Spring Rally
In March, Freedom Holding Corp. shares climbed from $125.35 to $144.88, according to NASDAQ, marking a 15.6% increase in market capitalization. Over this period, the company’s capitalization grew nearly $1.2 billion, from $7.67 billion to $8.87 billion. Thanks to the rally, the personal wealth of Freedom Holding’s founder and CEO, Timur Turlov, who owns roughly 70% of the company, rose by $828.2 million.
At the beginning of April, the shares saw additional gains. By April 2, the stock hit $151.64, bringing the company’s market capitalization over $9 billion. Since the beginning of March, the increase has added roughly $1.1 billion to Timur Turlov’s personal wealth, pushing his total net worth past $6 billion.
The stock is gaining on Freedom Holding’s expansion beyond Kazakhstan and positive rating agency actions.
Banking Beyond the Borders
Recently, Freedom Holding Corp. has significantly expanded its geographic footprint. It has agreed to acquire 99.32% of Turkish Bank A.Ş. in Turkey from Özyol Holding and the National Bank of Kuwait, giving Freedom access to a potential market of 90 million people. Earlier, Freedom’s Finansal Hizmetler obtained regulatory approval in Turkey to establish its own brokerage, Freedom Yatirim (Freedom Investment Securities Inc.). Combined with its banking license, the company can now offer both banking and investment products through cross-selling.
At the end of 2025, Freedom Broker Global Markets, Freedom Holding’s Abu Dhabi–based brokerage subsidiary, was granted a brokerage license. Operating in one of the world’s key financial hubs provides Freedom with a new gateway for its global expansion. Freedom’s fully digital banking model, successfully tested in Kazakhstan, is now being rolled out by Freedom Bank Tajikistan, with card products already in place. The next step will be offering digital mortgages that can be completed entirely online. Additionally, Freedom is in the process of establishing a bank in Georgia and plans to acquire a banking business in Europe.
Freedom Holding Corp., spanning beyond financial, lifestyle, and telecom businesses, serves 11 million clients through its AI- and big data–powered SuperApp. With the recent addition of voice-command functionality, the platform offers a fully digital, user-friendly banking experience.
Top-Grade Trust
The rapid growth of Freedom Holding’s financial segment, which plays a central role within the group’s multi-industry ecosystem, has been positively recognized by leading rating agencies. On March 17, Moody’s Ratings assigned Freedom Bank Kazakhstan a set of ratings, including a long-term deposit rating of Ba3 with a stable outlook and long-term counterparty risk ratings of Ba2, reflecting the bank’s solid results. Earlier in March, S&P Global Ratings affirmed B+/B long- and short-term issuer credit ratings on Freedom’s core financial subsidiaries Freedom Finance JSC, Freedom Finance Europe Ltd., Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC with a positive outlook.
Last year, Freedom Holding Corp. was added to the Russell 3000 Index, while its shares were also included in the First Trust Financial AlphaDEX ETF, marking another step in the group’s growing presence in U.S. capital markets. Freedom also continues to enjoy strong backing from leading global institutional investors and banks, including BlackRock, State Street Corp., Morgan Stanley, and JPMorgan Chase & Co., highlighting investor confidence in its strategy.
