In the bank's official statement, it was indicated that at the current moment, the opening of a subsidiary bank in Kyrgyzstan is not planned as part of a review of the international strategy. Nevertheless, the institution continues to study the market for long-term regional development. The bank is also focused on analyzing other international directions identified during recent meetings and trips by management, which are currently in the process of being developed.
Previously, there were reports about intentions to open a subsidiary structure in Kyrgyzstan, which was supposed to take the form of a closed joint-stock company called Freedom Bank KG.
It should be noted that "Freedom Bank Kazakhstan" already has a presence in Kyrgyzstan: its subsidiaries provide brokerage services (Freedom Broker), as well as payment solutions (Freedom Pay Kyrgyzstan) and are engaged in ticket sales (Ticketon Events KG).
The founder and majority shareholder of Freedom Holding Corp. is Timur Turlov. Over the past two years, the geography of the company's business interests has expanded to include countries such as Turkey, Georgia, Tajikistan, and Estonia.
Timur Turlov controls about 70% of the shares of Freedom Holding Corp. and ranks second in the list of the 75 wealthiest people in Kazakhstan.
