Freedom Holding Corp Leads Kazakhstan’s Financial Revolution by Reshaping Investment and Banking

Freedom Holding Corp is revolutionizing Kazakhstan’s investment and banking sectors through an integrated ecosystem of brokerage, banking, and digital services. With strong growth, innovative products, and regional expansion into Tajikistan and Turkey.

Freedom Holding Corp, a Nasdaq-listed U.S.-based company, is changing the financial sector of its key market —Kazakhstan — by building a technology-driven ecosystem that merges banking, brokerage, and digital services. The holding's brokerage and banking arms, Freedom Broker and Freedom Bank, have democratized market access, extended retail and institutional investment possibilities, and changed how individuals and businesses interact with financial markets.

By making global markets more accessible to individuals and institutions alike, Freedom Holding is changing how Kazakhstan—and soon, Central Asia—interacts with finance. As Kazakhstan's financial sector expands, the brokerage industry in Kazakhstan has experienced tremendous growth in trading volumes and user numbers. Freedom Broker plays an important role in increasing investment opportunities by incorporating new financial technologies. In 2024, the company reported a 27.5% increase in assets under management, reaching $3.7 billion. The average customer account size rose from $13,400 in 2023 to $16,300 in 2024, while the number of transactions increased by 29%. Freedom Broker has completed several strategic initiatives in 2024, including improving retail clients' access to diverse financial instruments, and transitioning trading operations to an Information, Technology, and Compliance (ITC)-centered model to improve efficiency and user experience.

Freedom Broker ranked as #1 by Cbonds among underwriters of Kazakhstani bonds on AIX, securing a 52.37% market share and overseeing six major bond placements worth $250 million in 9M 2024. This year, Freedom Broker plans to further expand its offerings and enhance market access. The brokerage plans to launch new collective investment products, including ETFs, money market funds, and market maker funds; expand digital asset services; and obtain a custodian license to further expand its market presence.

Freedom Holding Corp. continues to expand its ecosystem by further integrating banking, brokerage, and financial technology services. As a key part of it, Freedom Bank continues to invest in banking innovation and financial inclusion. Last year, the bank's net profit stood at $400 million, with total liabilities and deposits exceeding $2 billion. Despite a 10% devaluation of the local currency, the tenge (KZT), the bank's net assets grew by 17% to $1.5 billion.

Freedom Bank's investment portfolio, valued at $3.7 billion, includes government securities, quasi-government bonds and equities, generating net investment income of $221 million. The bank continues to be a major player in the equity, bond, repo and currency swap markets, providing direct access to global financial opportunities.

Freedom Bank has developed the Freedom SuperApp, a comprehensive financial tool that has gained 800,000 users. The app consolidates financial products, loyalty programs, and cashback in shares, promoting an investment culture.

Beyond Kazakhstan, Freedom Holding is expanding into new markets, including Tajikistan and Turkey. The company received a banking license in Tajikistan in October 2024, marking its entry into Central Asia’s financial sector. Freedom Holding has also secured a brokerage license in Turkey following five years of market research. Freedom Broker and Freedom Bank are not only transforming Kazakhstan’s financial landscape, but setting the stage for regional and global development.

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