Freedom Holding Corp. Celebrates five years on NASDAQ with record growth and global expansion

Freedom Holding Corp., a US-based financial holding company, celebrated its fifth anniversary on NASDAQ in October this year.

A well-executed growth strategy, combined with the holding company’s commitment to local and global investors, has ensured the company’s success, says company founder and CEO Timur Turlov.

Since its listing in 2019, the holding company has expanded internationally and significantly increased its market capitalization.

Over five years, Freedom Holding’s market capitalization has grown from $801.7 million in 2019 to $6 billion in 2024, representing a growth of 648%. In 2024, the holding company posted record revenues of $1.6 billion, while net profit increased by 82% to $375 million, and assets grew by 63% to a total of $8.3 billion.

S&P Ratings upgraded the outlook for both the Freedom Holding and its subsidiaries, citing strong financial performance and confidence in Kazakhstan’s financial environment and improved regulation.

International expansion has also been a key driver of success, with the company looking to grow in both emerging and mature markets. Freedom Holding now operates in 22 countries, including Kazakhstan, the US, Cyprus, Poland and Uzbekistan. Its brokerage unit in Europe already has more than 300,000 customers.

Meanwhile, in Kazakhstan, Freedom Holding offers a wide range of financial and lifestyle services designed to enhance the daily lives of its customers. This model could potentially be extended globally, says Turlov.

Freedom Holding also remains committed to corporate social responsibility, and Turlov continues to lead initiatives that support education, youth sports, and environmental projects in Central Asia. He was recently appointed Chairman of the UN Global Compact Advisory Committee in Central Asia.