Freedom Holding Corp. Increases Revenue by 40%: What Drove the Holding Company’s Growth in the New Fiscal Year?

Freedom Holding Corp. has released its financial results for the first quarter of fiscal year 2027. During the period, the group recorded growth across several business segments, increasing revenue by 40% year over year while expanding its customer base in banking, brokerage, and non-financial services.

Results for the First Quarter of Fiscal Year 2027

Freedom Holding Corp. closed the first quarter of fiscal year 2027, covering the period from April 1 to June 30, 2026, with solid growth across key financial indicators. At the same time, the holding company continued to expand its customer base, strengthen its financial businesses, and lay the groundwork for scaling its ecosystem beyond Kazakhstan.

In the first quarter of fiscal year 2027, Freedom Holding Corp.’s total revenue increased by 40% compared with the same period last year, rising from $524 million to $732.5 million. Basic earnings per share amounted to $0.52. The holding company reported net income of $31.7 million. Total assets increased by 7% during the quarter to $14.05 billion.

The main contribution to revenue growth came from interest and fee income. Interest income rose by 49% to $295.1 million, while fee and commission income increased by 46% to $156.7 million. Net gains on securities trading reached $79.8 million, up 75% year over year. The company also generated $9.9 million from derivative transactions, mainly due to positive revaluation of foreign exchange swaps.

Growing Customer Base

By the end of the quarter, the number of brokerage accounts had reached 874,000. The company’s banking services are now used by 5.4 million customers, up 8% from the previous quarter. The insurance segment is approaching 1 million customers.

The fastest growth was recorded in the ecosystem’s non-financial businesses, including telecommunications, cloud services, artificial intelligence, and lifestyle services. Their customer base increased by 36% to 1.5 million people. Freedom Holding Corp. founder and CEO Timur Turlov described the start of the fiscal year as successful.

“We significantly increased revenue while maintaining a consistently high level of quarterly earnings. This allows us not only to actively invest in the development of the Freedom ecosystem, but also to expand it into new markets,” Turlov said.

Key Events of the First Quarter

In early July, Freedom Holding Corp. received approval from Türkiye’s Banking Regulation and Supervision Agency (BRSA) and the country’s competition authority to acquire a 99.32% stake in Turkish Bank A.Ş. A month later, the company successfully completed the transaction, and the bank was renamed Freedom Bank A.Ş.

Freedom Holding Corp. CEO Timur Turlov called the acquisition a significant milestone for the entire holding company.

“Our objective for the coming years is to strengthen the bank’s capital and technological capabilities so that the Freedom ecosystem can rapidly develop around it. Having studied the Turkish market closely, I am now confident that our business will be useful and relevant for the country,” Timur Turlov said.

Freedom Holding Corp.’s ecosystem has not simply acquired a new asset. The company intends to lay the foundation for bringing its Kazakhstan-based ecosystem model to another major market. In Türkiye, the holding company plans to combine banking services with brokerage, investment, and insurance products. Non-financial services are expected to be added to the platform at a later stage.

In June, the holding company applied for a banking license in France. The company announced plans to invest approximately €500 million in developing a digital ecosystem in the French market.

During the reporting quarter, the company also announced the acquisition of ChessBase, one of the world’s leading platforms for chess software, analytics, and data. Freedom Holding Corp. plans to invest approximately €5 million in the project, including funding improvements to the platform through artificial intelligence. This is expected to enhance the service’s analytical capabilities and chess databases.

During the quarter, S&P Global Ratings upgraded the ratings of several key Freedom subsidiaries to BB- with a stable outlook. The agency highlighted three years of progress in developing an integrated risk management and compliance framework. S&P expects Freedom Holding Corp.’s capitalization to remain strong over the next 12 to 24 months.