International investment and fintech group Freedom Holding Corp. (NASDAQ: FRHC) has announced the launch of a new commercial bank in Georgia — Freedom Bank Georgia.
The decision represents another stage in the holding’s broad strategy for geographic and technological expansion across Central Asia, the Caucasus, and Europe.
To obtain a license from the National Bank of Georgia, Freedom Holding Corp. has already registered a legal entity — FBG Company JSC, which will be renamed Freedom Bank Georgia JSC after completing all required procedures. The authorized capital of the new bank will be 5 million lari (about USD 1.8 million).
The bank will become a subsidiary of Freedom Bank Kazakhstan, one of the holding’s key assets, which, as of July 2025, ranked among the top 10 largest banks in Kazakhstan with assets totaling 2.2 trillion tenge (USD 4.7 billion)
The charter, business plan, organizational structure, and candidates for key management positions have already been approved in Kazakhstan. This groundwork will help expedite the licensing process and the formation of a local team in Georgia.
“We’re Building an Ecosystem, Not Just a Bank”
According to Timur Turlov, founder and CEO of Freedom Holding Corp., the launch of Freedom Bank Georgia is not merely an entry into a new market — it is a strategic step toward building a unified financial ecosystem across the region.
“We want to replicate the success of the Kazakh model, but with a stronger focus on partnerships. The Georgian market already has strong players, and we see enormous potential for collaboration,” said Turlov during the Digital Bridge 2025 Forum in Astana. “We’re not afraid of competition. Kazakhstan was also a challenging market, but we proved that we can grow successfully by building strong local teams and introducing new technologies.”
Turlov estimates that establishing the bank will take at least one year. He emphasized that the Georgian team will play a crucial role in adapting the business model to local conditions:
“Georgia differs from Kazakhstan in terms of regulation and IT infrastructure, which is why we trust this process to local professionals. It’s painstaking but essential work that will yield lasting results,” he noted.
Fintech, Investment, and Digitalization: The Core of Freedom’s Strategy
In recent years, Freedom Holding Corp. has evolved from a traditional brokerage into a multi-level fintech group that integrates banking, insurance, investment, technology, and lifestyle services.
In Kazakhstan, the Freedom Ecosystem already includes:
Freedom Bank Kazakhstan — a universal digital bank
Freedom Broker — a leading investment operator in the regional market
Freedom Life and Freedom Insurance — insurance companies developing digital policies and online products
Arbuz.kz — the largest online marketplace
Freedom Ticketon and Aviata — platforms for ticketing and travel services
All these companies are integrated into a single ecosystem, allowing users to invest, insure, shop, book flights, and manage their finances through a unified digital interface.
Geographic Expansion: From Central Asia to the Caucasus and Europe
The launch of Freedom Bank Georgia is not an isolated project but part of a larger strategy to create a unified space for financial and digital services stretching from Central Asia to Europe.
Freedom Holding Corp. is building an ecosystem where technology, finance, and human capital come together to drive sustainable growth and expand economic opportunities across the region.
Beyond Kazakhstan and Georgia, Freedom Holding Corp. continues to expand its presence in Europe and the United States. Today, the company provides financial services in 22 countries, including the U.S., Cyprus, Poland, Spain, Uzbekistan, Armenia, and Azerbaijan.
In Europe, Freedom Holding Corp. is actively developing brokerage and investment operations through licensed entities, offering clients access to international exchanges and financial instruments.
In Central Asia, Freedom is building a turnkey ecosystem — from digital banking and insurance to e-commerce and IT infrastructure projects.
Georgia now joins this map as a strategic hub for entering the South Caucasus and Black Sea markets.
“Georgia is an important bridge between Central Asia and Europe,” said Timur Turlov.
“It offers a highly attractive environment for financial innovation and IT startups. We want to be part of this dynamic landscape and contribute to the development of Georgia’s modern financial sector.”
Social Mission and Corporate Culture
Social responsibility remains one of Freedom Holding Corp.’s top priorities. The company actively invests in education, sports, and human capital development.
“We enter new countries not only with our products but also with our culture,” noted Timur Turlov.
“We support chess, educational initiatives, and youth development because we believe that sustainable business cannot exist without a sustainable society.”
According to the CEO, Freedom aims to nurture a new generation of professionals capable of strategic thinking, innovation, and responsible decision-making.
Freedom Holding Corp. Today
Freedom Holding Corp. is an international investment group headquartered in New York, with its operational center in Astana. Its shares are traded on NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker FRHC.
The company is regulated by the U.S. Securities and Exchange Commission (SEC) and is included in the Russell 3000® Index. The founder and majority shareholder, Timur Turlov, owns approximately 70% of the company’s shares.
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