# Freedom Holding Corp.

Summary updated: 2026-10-02T13:02:28.568918Z
Canonical: https://finbar.com/research/companies/freedom-holding-corp

## Overview

Freedom Holding Corp. is a Nevada-based financial-services holding company. Its subsidiaries provide brokerage and securities dealing, investment banking and advisory services, retail and commercial banking, and life and general insurance; it also operates related payment, e-commerce, ticketing, cloud, telecommunications and media businesses. Its reported segments are Brokerage, Banking, Insurance and Other. [1](https://app.finbar.com/go?id=P123399881)[2](https://app.finbar.com/go?id=P123399913)[3](https://app.finbar.com/go?id=P123399914) The company describes its mission as democratizing access to financial markets for global customers. [4](https://ir.freedomholdingcorp.com/faq)

Kazakhstan is its main operating market, alongside businesses across Central Asia, the United States, the United Kingdom, Cyprus, the UAE and several European markets. [5](https://app.finbar.com/go?id=P123399883) For the year ended March 31, 2026, Freedom Holding reported revenue of $2.1913 billion and 11,846 employees. [6](https://ir.freedomholdingcorp.com/press-releases/detail/99/freedom-holding-corp-frhc-reports-2026-earnings) The company traces its current business to 2015 and its origins to Freedom Finance, established in Kazakhstan in 2011; it listed on Nasdaq in 2019. [7](https://app.finbar.com/go?id=P123399889)[8](https://app.finbar.com/go?id=P123399892)
[1](https://app.finbar.com/go?id=P123399881)[2](https://app.finbar.com/go?id=P123399913)[3](https://app.finbar.com/go?id=P123399914)[4](https://ir.freedomholdingcorp.com/faq)[5](https://app.finbar.com/go?id=P123399883)[6](https://ir.freedomholdingcorp.com/press-releases/detail/99/freedom-holding-corp-frhc-reports-2026-earnings)[7](https://app.finbar.com/go?id=P123399889)[8](https://app.finbar.com/go?id=P123399892)[4](https://ir.freedomholdingcorp.com/faq)[6](https://ir.freedomholdingcorp.com/press-releases/detail/99/freedom-holding-corp-frhc-reports-2026-earnings)

## Products & services

Freedom Holding’s brokerage services provide retail access to exchange-traded and over-the-counter equities and debt, money-market instruments, derivatives, government bonds and mutual funds; offerings may include margin lending. Its investment-banking services include M&A advice, underwriting, capital-markets advisory, IPOs and follow-on offerings, and public- and private-debt placement. [9](https://app.finbar.com/go?id=P123399948)[10](https://app.finbar.com/go?id=P123399956)

Freedom SuperApp combines retail banking, payments, insurance and lifestyle services in one interface, with single sign-on, biometric authentication and links to government and commercial data sources. Banking products include multi-currency cards and named offerings such as SuperCard, which pays daily interest; Invest Card, which links everyday spending to brokerage funds; and Power Card, a card for ages 5–18 with parental spending controls. Digital lending products include mortgages, auto loans, business loans and cash loans, with automated data retrieval and application processes; stated limits include up to KZT 100 million for business loans and KZT 8 million for cash loans, each for up to five years. [11](https://app.finbar.com/go?id=P123399964)[12](https://app.finbar.com/go?id=P123399969)[13](https://app.finbar.com/go?id=P123399974)[14](https://app.finbar.com/go?id=P123399976)[15](https://app.finbar.com/go?id=P123399988)[16](https://app.finbar.com/go?id=P123399982)[17](https://app.finbar.com/go?id=P123399983)[18](https://app.finbar.com/go?id=P123399984)[19](https://app.finbar.com/go?id=P123399985)

Other named SuperApp services include Freedom Ticketon for events, Freedom Travel, Freedom Media, Arbuz grocery delivery, Naimi home services, Freedom Mobile, a travel e-SIM, digital pharmacy and DTP.kz for motor-incident and insurance-claim services. Freedom Life offers life, health, annuity, accident and travel insurance, among other lines; Freedom Insurance provides property, auto, casualty, liability and personal insurance, with online policy purchase and account management. [20](https://app.finbar.com/go?id=P123399960)[21](https://app.finbar.com/go?id=P123399980)[22](https://app.finbar.com/go?id=P123399935)[23](https://app.finbar.com/go?id=P123399936) In FY2026, the company’s Other segment generated $172.8 million, or 8% of total revenue, net; the filing did not identify a revenue split for individual products. [20](https://app.finbar.com/go?id=P123399960)
[9](https://app.finbar.com/go?id=P123399948)[10](https://app.finbar.com/go?id=P123399956)[11](https://app.finbar.com/go?id=P123399964)[12](https://app.finbar.com/go?id=P123399969)[13](https://app.finbar.com/go?id=P123399974)[14](https://app.finbar.com/go?id=P123399976)[15](https://app.finbar.com/go?id=P123399988)[16](https://app.finbar.com/go?id=P123399982)[17](https://app.finbar.com/go?id=P123399983)[18](https://app.finbar.com/go?id=P123399984)[19](https://app.finbar.com/go?id=P123399985)[20](https://app.finbar.com/go?id=P123399960)[21](https://app.finbar.com/go?id=P123399980)[22](https://app.finbar.com/go?id=P123399935)[23](https://app.finbar.com/go?id=P123399936)

## Geographic presence

Kazakhstan is Freedom Holding Corp.’s main operating market. Its operating subsidiaries span Kazakhstan, Cyprus, the United States, the United Kingdom, Armenia, the UAE, Japan, Uzbekistan, Kyrgyzstan, Georgia, Tajikistan, Azerbaijan, Türkiye, Bulgaria, Germany, Greece, Lithuania, the Netherlands, Portugal, Spain, Austria, France and Poland; the company also has a representative office in Italy. The filings note that brokerage operations in Türkiye and banking operations in Georgia were pending licenses. [24](https://app.finbar.com/go?id=P155094687)

For FY2026, approximately 84% of total revenue and most net income were attributable to Kazakhstan operations; approximately 63% of total assets were attributable to Kazakhstan as of March 31, 2026. [25](https://app.finbar.com/go?id=P123400491) At June 30, 2026, long-lived assets were concentrated in Kazakhstan ($359.0 million), followed by Cyprus ($40.8 million), the United States ($12.9 million), Armenia ($7.7 million) and other locations ($13.0 million). [26](https://app.finbar.com/go?id=T17883503)

As of June 30, 2026, the Group reported 12,100 full-time employees and 264 offices: 34 brokerage, 72 insurance, 40 banking and 118 other-services offices. [24](https://app.finbar.com/go?id=P155094687) The filings reviewed provide no country-level employee breakdown. [27](https://app.finbar.com/go?id=P123400722) They disclose selected office addresses, including Freedom Tower in Limassol, Cyprus, and the company’s U.S. principal executive offices at 40 Wall Street in New York. [28](https://app.finbar.com/go?id=P123399924)[29](https://app.finbar.com/go?id=P123399940)
[24](https://app.finbar.com/go?id=P155094687)[25](https://app.finbar.com/go?id=P123400491)[26](https://app.finbar.com/go?id=T17883503)[27](https://app.finbar.com/go?id=P123400722)[28](https://app.finbar.com/go?id=P123399924)[29](https://app.finbar.com/go?id=P123399940)

## Business segments

Freedom Holding Corp. reports four operating segments: Brokerage, covering retail brokerage and investment-banking services; Banking, including lending, deposits, payment cards, money transfers and correspondent accounts; Insurance, covering life and general insurance; and Other, including payment processing, e-commerce, online ticket sales, telecommunications and media. [3](https://app.finbar.com/go?id=P123399914) The company’s segment disclosures use this four-segment structure. [2](https://app.finbar.com/go?id=P123399913)[30](https://app.finbar.com/go?id=P123399884)

For the year ended March 31, 2026, net revenue was $831.5 million for Brokerage (37.9% of total), $689.2 million for Banking (31.5%), $497.8 million for Insurance (22.7%) and $172.8 million for Other (7.9%), out of total net revenue of $2,191.3 million. [31](https://app.finbar.com/go?id=T14190816) Income before income tax was $456.2 million for Brokerage, $102.0 million for Banking and $30.0 million for Insurance; Other recorded a loss of $362.3 million, leaving total income before income tax of $226.0 million. [31](https://app.finbar.com/go?id=T14190816)
[3](https://app.finbar.com/go?id=P123399914)[2](https://app.finbar.com/go?id=P123399913)[30](https://app.finbar.com/go?id=P123399884)[31](https://app.finbar.com/go?id=T14190816)[31](https://app.finbar.com/go?id=T14190816)[31](https://app.finbar.com/go?id=T14190816)[31](https://app.finbar.com/go?id=T14190816)[31](https://app.finbar.com/go?id=T14190816)[31](https://app.finbar.com/go?id=T14190816)[31](https://app.finbar.com/go?id=T14190816)[31](https://app.finbar.com/go?id=T14190816)[31](https://app.finbar.com/go?id=T14190816)[31](https://app.finbar.com/go?id=T14190816)

## Company history

Freedom Finance traces its operating-business origins to 2008, when Timur Turlov founded the brokerage business in Moscow; company filings describe an earlier predecessor acquisition in 2010 and its renaming as Freedom Finance in 2011. [32](https://www.freedomholdingcorp.com/about) [33](https://app.finbar.com/go?id=P24618397) The business expanded regionally, including the acquisition of Kazakhstan broker Freedom KZ in 2013 and the establishment of Freedom Europe, which received a brokerage license in 2015. [34](https://app.finbar.com/go?id=P14938285)

In 2015, Turlov agreed to combine his brokerage interests with the listed company then known as BMB Munai; the acquisitions closed in stages through 2017 as the company became Freedom Holding Corp. [35](https://app.finbar.com/go?id=P79008674) Its shares began trading on Nasdaq in October 2019. [36](https://app.finbar.com/go?id=P122085744) Subsequent milestones included the 2020 acquisitions of Kazakhstan bank Kassa Nova and U.S. broker Prime Executions, the 2022 acquisition of two insurance businesses, and the completion of its Russian-subsidiary divestiture in 2023. [37](https://app.finbar.com/go?id=P47406789) [38](https://app.finbar.com/go?id=P45055629) [39](https://app.finbar.com/go?id=P119790637) [40](https://app.finbar.com/go?id=P79100589) In 2023, the company added the Aviata and Chocotravel online travel businesses; later milestones included the launch of Freedom SuperApp in 2024 and the acquisition of Astel Group by Freedom Telecom in 2025. [41](https://ir.freedomholdingcorp.com/all-sec-filings/xbrl_doc_only/3147) [42](https://bankffin.kz/ru/articles/perexod-v-prilozenie-freedom-superapp) [43](https://www.freedomholdingcorp.com/news-media/press-releases/detail/73/freedom-holding-corp-reports-fiscal-year-2025-financial)
[33](https://app.finbar.com/go?id=P24618397)[34](https://app.finbar.com/go?id=P14938285)[35](https://app.finbar.com/go?id=P79008674)[36](https://app.finbar.com/go?id=P122085744)[37](https://app.finbar.com/go?id=P47406789)[38](https://app.finbar.com/go?id=P45055629)[39](https://app.finbar.com/go?id=P119790637)[40](https://app.finbar.com/go?id=P79100589)[32](https://www.freedomholdingcorp.com/about)[41](https://ir.freedomholdingcorp.com/all-sec-filings/xbrl_doc_only/3147)[42](https://bankffin.kz/ru/articles/perexod-v-prilozenie-freedom-superapp)[43](https://www.freedomholdingcorp.com/news-media/press-releases/detail/73/freedom-holding-corp-reports-fiscal-year-2025-financial)[32](https://www.freedomholdingcorp.com/about)[41](https://ir.freedomholdingcorp.com/all-sec-filings/xbrl_doc_only/3147)[42](https://bankffin.kz/ru/articles/perexod-v-prilozenie-freedom-superapp)[43](https://www.freedomholdingcorp.com/news-media/press-releases/detail/73/freedom-holding-corp-reports-fiscal-year-2025-financial)

## Sources

1. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399881)
2. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399913)
3. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399914)
4. [ir.freedomholdingcorp.com](https://ir.freedomholdingcorp.com/faq)
5. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399883)
6. [ir.freedomholdingcorp.com](https://ir.freedomholdingcorp.com/press-releases/detail/99/freedom-holding-corp-frhc-reports-2026-earnings)
7. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399889)
8. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399892)
9. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399948)
10. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399956)
11. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399964)
12. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399969)
13. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399974)
14. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399976)
15. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399988)
16. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399982)
17. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399983)
18. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399984)
19. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399985)
20. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399960)
21. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399980)
22. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399935)
23. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399936)
24. [Freedom Holding Corp. — Full financial report (2027 Q 1)](https://app.finbar.com/go?id=P155094687)
25. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123400491)
26. [Freedom Holding Corp. — Full financial report (2027 Q 1)](https://app.finbar.com/go?id=T17883503)
27. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123400722)
28. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399924)
29. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399940)
30. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=P123399884)
31. [Freedom Holding Corp. — Full financial report (2026 Y)](https://app.finbar.com/go?id=T14190816)
32. [www.freedomholdingcorp.com](https://www.freedomholdingcorp.com/about)
33. [Freedom Holding Corp. — Full financial report (2023 Y)](https://app.finbar.com/go?id=P24618397)
34. [Freedom Holding Corp. — Full financial report (2023 Y)](https://app.finbar.com/go?id=P14938285)
35. [Freedom Holding Corp. — Full financial report (2023 Y)](https://app.finbar.com/go?id=P79008674)
36. [Freedom Holding Corp. — Full financial report (2023 Y)](https://app.finbar.com/go?id=P122085744)
37. [Freedom Holding Corp. — Full financial report (2023 Y)](https://app.finbar.com/go?id=P47406789)
38. [Freedom Holding Corp. — Full financial report (2023 Y)](https://app.finbar.com/go?id=P45055629)
39. [Freedom Holding Corp. — Full financial report (2023 Y)](https://app.finbar.com/go?id=P119790637)
40. [Freedom Holding Corp. — Full financial report (2023 Y)](https://app.finbar.com/go?id=P79100589)
41. [ir.freedomholdingcorp.com](https://ir.freedomholdingcorp.com/all-sec-filings/xbrl_doc_only/3147)
42. [bankffin.kz](https://bankffin.kz/ru/articles/perexod-v-prilozenie-freedom-superapp)
43. [www.freedomholdingcorp.com](https://www.freedomholdingcorp.com/news-media/press-releases/detail/73/freedom-holding-corp-reports-fiscal-year-2025-financial)

AI-generated summary; may contain errors. Not investment advice. Sign up to Finbar to view original document sources and access worldwide fundamental financial data and intelligence.