Freedom Holding Corp Builds Integrated Financial Ecosystem Across Banking, Insurance, Telecom and AI
Freedom Holding Corp. is an international financial-technology group listed on Nasdaq under the ticker FRHC. Originally built around the brokerage Freedom Finance founded by Timur Turlov in 2008, the company has evolved into a diversified holding that operates a bank, insurance companies, telecom, cloud services and an e-commerce platform.
The group’s main market remains Kazakhstan, where it works across 24 countries in total. Its banking arm, Freedom Bank Kazakhstan, serves as the payment backbone for the entire ecosystem and powers the Freedom SuperApp launched in April 2024. The super-app integrates banking, payments, investments, insurance, shopping and travel services, reaching 2.59 million monthly active users by March 2026.
Banking metrics showed robust expansion: assets stood at $5.36 billion (+21 %), the loan book reached $2.05 billion (+29 %) and deposits climbed to $2.52 billion (+46 %). Client numbers in the banking segment more than doubled to 5.03 million, placing the bank seventh in Kazakhstan by assets.
Revenue is reported across four segments: brokerage (39 %), banking (31 %), insurance and the “Other” category that includes payments, e-commerce, travel and telecom. In the first quarter of fiscal 2027 brokerage revenue rose 60 % to $282.6 million while banking revenue grew 54 % to $225.2 million. The lifestyle and telecom businesses more than doubled year-on-year.
Strategic technology investments include the Freedom AI Super Cluster, with an initial 4 MW phase scheduled for the second quarter of 2027 and plans to scale to 25 MW in Astana. A separate $2 billion sovereign AI hub project with 100 MW capacity is under development in cooperation with NVIDIA and the Kazakh Ministry of AI. In parallel, 165 000 teachers have been granted access to ChatGPT Edu through an agreement involving OpenAI.
Geographic expansion continues. Freedom Bank Tajikistan received its license in October 2024, a Turkish bank was acquired in July 2026 and rebranded Freedom Bank A.Ş., and license applications are pending in Georgia and France. The company employs 11 846 people, with more than 90 % based in Central Asia.
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