01.07.2026 13:50
BRSA and the Competition Authority approved the sale of 99.32 percent of Turkish Bank's shares to Kazakhstan-based Freedom Holding. Thus, Turkish Bank joined the banks invested by Kazakh capital, following Şekerbank and Rabobank. It was stated that the bank will continue its operations in Turkey in the new period.
The Turkish Banking Regulation and Supervision Agency (BRSA) and the Turkish Competition Authority have approved Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp., to acquire Turkish Bank A.Ş.
Under the approval, Freedom Finansal Hizmetler A.Ş. will take over 99.32 percent of the bank's capital.
THE ACQUISITION ONLY COVERS TURKEY OPERATIONS
Pursuant to the Share Purchase Agreement signed between the parties in February 2026, the acquisition covers only Turkish Bank A.Ş.'s operations in Turkey.
TurkishBank Group's banking activities in the United Kingdom and the Turkish Republic of Northern Cyprus, as well as other group companies, are excluded from the agreement. The bank's operations will continue under the supervision of regulatory bodies in Turkey in the new period.
"WE WILL ESTABLISH A DIGITAL ECOSYSTEM IN TURKEY"
Timur Turlov, Founder and CEO of Freedom Holding Corp., said that the Turkish market holds strategic importance and that they aim to bring the digital finance model they have successfully implemented in Kazakhstan to Turkey.
Turlov stated, "We want to implement the Freedom SuperApp model, which has reached 5.67 million users in less than two years, in Turkey, where the potential is much greater. This acquisition will form a strong foundation for our goal."
INTEREST FROM KAZAKH CAPITAL CONTINUES
With the transfer of Turkish Bank, investments by Kazakhstan-based companies in Turkey's financial sector continue to grow. Last week, the approval process for Kaspi.kz's acquisition of Rabobank A.Ş. was completed, while Şekerbank is among the banks that have been co-owned by Kazakh capital for many years.
These recent transactions in Turkey's banking sector reveal the increasing interest of Kazakh investors in the industry.