Finance

Kazakh Freedom Bank Enters Georgian Market

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Tbilisi (GBC) – The Kazakh regulator has granted Freedom Bank Kazakhstan permission to establish a subsidiary - Freedom Bank Georgia. The regulator signed the relevant resolution on November 25. The information about this was published on Friday.

That Freedom Bank was planning to enter the Georgian market, FORBES Kazakhstan wrote about it in September. By that time, the authorized capital of the future financial institution had already been determined - $1.8 million, which would be nominated by 5 million ordinary shares with a value of 1 GEL each. The charter and business plan, which include the organizational structure of the future bank and candidates for leadership positions, were also approved.

Freedom Bank Kazakhstan ranks tenth among the 23 banks operating in the country in terms of assets – 2.4 trillion tenge (USD 4.6 billion).

Timur Turlov is the founder of Freedom Holding Corp. According to the latest data, the businessman owns about 70% of the holding's shares. Turlov ranks second in the latest Forbes Kazakhstan ranking of the richest Kazakhs. He is also fourth in the ranking of the most influential businessmen. As of May 2025, his fortune was estimated at USD 5.8 billion.

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