01.12.2025 14:51
It was claimed that the Kazakhstan-based financial group Freedom Holding Corp. is in talks to acquire TurkishBank A.Ş. While Freedom Holding stated that they are not ready to comment on the matter, TurkishBank indicated that it may release a statement during the day. It was previously announced that Freedom Holding had reached an agreement to acquire Rabobank's Turkey unit, and the process is awaiting approval from regulatory authorities.
Claims have emerged regarding Kazakhstan-based Freedom Holding Corp.'s discussions to acquire TurkishBank A.Ş. According to a report by Bloomberg News, citing sources close to the matter, the group is considering the potential acquisition of the bank as a strategic option.
The report stated that this acquisition could be a significant step for Freedom Holding, particularly in terms of expanding its digital banking activities. However, the company refrained from providing details about the content of the ongoing discussions.
COMPANY'S "NOT READY TO COMMENT" STATEMENT
Freedom Holding stated, "We are not ready to comment on the banks we are evaluating or the details of the ongoing discussions."
TURKISHBANK: A STATEMENT MAY COME DURING THE DAY
On the other hand, TurkishBank did not comment on the claims but indicated that it might release a statement during the day.
AREAS OF OPERATION OF THE BANK
According to information on TurkishBank's website, the bank operates in corporate, commercial, individual, and private banking services, as well as project financing and fund management. Among the bank's partners is the Kuwait National Bank.
INTEREST IN TURKEY IS NOT NEW
The interest of Freedom Holding and Kazakhstan-based financial institutions in the Turkish financial sector has been on the agenda before. Kaspi.kz had reached an agreement to acquire Rabobank's Turkey unit and announced that the process was awaiting approval from regulatory authorities. Additionally, Kaspi recently purchased a 65.4% stake in Hepsiburada for $1.1 billion.