News Summary
Freedom Holding Corp. has officially launched Freedom Bank Georgia as part of its strategy for expansion across Central Asia and Europe. The bank, operating under FBG Company JSC, is applying for a banking license in Georgia. With an authorized capital of 5 million lari, Freedom Bank Georgia will be a subsidiary of Freedom Bank Kazakhstan. This venture aims to replicate the successful Kazakh banking model in Georgia while enhancing the company’s extensive digital financial ecosystem across the region.
Tbilisi, Georgia – Freedom Holding Corp. (NASDAQ: FRHC) has officially launched a new commercial bank in Georgia, named Freedom Bank Georgia. This initiative is a significant part of the company’s broader strategy aimed at geographic and technological expansion across Central Asia, the Caucasus, and Europe.
To facilitate this launch, Freedom Holding Corp. has registered a legal entity named FBG Company JSC, which is in the process of obtaining a banking license from the National Bank of Georgia. Once all the necessary procedures are completed, FBG Company JSC will be rebranded as Freedom Bank Georgia JSC.
The authorized capital for Freedom Bank Georgia is set at 5 million lari, approximately USD 1.8 million. As part of its structural organization, Freedom Bank Georgia will operate as a subsidiary of Freedom Bank Kazakhstan, a critical asset within the Freedom Holding Corp. portfolio. As of July 2025, Freedom Bank Kazakhstan is ranked among the top 10 largest banks in Kazakhstan, with total assets of 2.2 trillion tenge, equivalent to around USD 4.7 billion.
The groundwork for Freedom Bank Georgia has already been established, as its charter, business plan, organizational structure, and candidates for key management positions have all received approval in Kazakhstan. This early preparation aims to facilitate a swift licensing process while forming a local team in Georgia.
Company CEO Timur Turlov describes the launch of Freedom Bank Georgia as a pivotal step towards constructing a unified financial ecosystem across the region. The goal is to replicate the success of the Kazakh banking model in Georgia, focusing on building strong partnerships while adapting to the local economic landscape.
Freedom Holding Corp. estimates that establishing Freedom Bank Georgia will require at least one year to complete. The company has undergone a transformation from being a traditional brokerage to evolving into a multi-level fintech conglomerate that encompasses banking, insurance, investment, technology, and lifestyle services.
The Freedom Ecosystem in Kazakhstan includes various financial and technological services, such as:
- Freedom Bank Kazakhstan – a universal digital bank
- Freedom Broker – a leading investment operator
- Freedom Life and Freedom Insurance – insurance companies
- Arbuz.kz – the largest online marketplace
- Freedom Ticketon and Aviata – ticketing and travel service platforms
These interconnected services allow users to manage a wide range of applications through a single digital interface. The expansion into Georgia aligns with Freedom Holding Corp.’s overarching vision to create a comprehensive financial and digital services network that stretches from Central Asia to Europe.
Freedom Holding Corp. currently operates in 22 countries, including the U.S., Cyprus, Poland, Spain, Uzbekistan, Armenia, and Azerbaijan. The company is also developing brokerage and investment operations in Europe through licensed entities that grant access to international exchanges. Georgia has been identified as a strategic hub for penetrating the South Caucasus and Black Sea markets.
Turlov emphasizes the importance of Georgia as a vital conduit between Central Asia and Europe, particularly for financial innovation and IT startups. Freedom Holding Corp. is committed to social responsibility, investing in education, sports, and the development of human capital. The company’s mission entails nurturing professionals capable of strategic thinking, innovation, and responsible decision-making.
With headquarters located in New York and an operational center in Astana, Freedom Holding Corp. trades its shares on NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Turlov, as the founder and majority shareholder, holds approximately 70% of the company’s shares.
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