Freedom Bank

What Freedom Bank does

Freedom Bank Kazakhstan JSC is a digital-first commercial bank headquartered in Almaty, Kazakhstan, founded in 2020 through Freedom Holding Corp.'s acquisition of a small bank with approximately 40,000 customers. As the core banking subsidiary of Nasdaq-listed Freedom Holding Corp. (FRHC), it serves individual retail customers, small and medium enterprises, large corporates, and government programs (Ken Dala, Orleu, Astana Business, agricultural lending) through a SuperApp-centric distribution model spanning Almaty and Astana branches and online channels. The bank has scaled to 5.03 million banking customers and supports 14 million-plus users across the broader Freedom ecosystem spanning Kazakhstan, Turkey, UAE, the US, and Europe.

The bank's core product set includes the Freedom SuperApp integrating deposits (Kopilka, Strategy, Capital, Freedom First), multi-currency payment cards across KZT, USD, EUR, RUB, CNY, TRY, and AED (SuperCard, Freedom Card, Power Card for children, Student Card, premium and cobranded cards), digital mortgages (up to 70 million KZT, 5–20 years, 7.2–24.9% effective rate, 2-minute average decision), digital auto loans, cash loans, business banking (Freedom Business, Freedom Online, Freedom POS, Salary Project with 1C integration, Tender Guarantees, Digital Business Credit), money transfers (SWIFT, Zolotaya Korona, Western Union, phone-number and card-to-card), and merchant acquiring. Platform integrations span Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Mastercard Easy Savings, and eGov.kz for digital document verification. The bank holds ARFR License No. 1.1.108 for banking and No. 1.2.253/45 for securities operations, is a principal member of Visa and Mastercard, a member of SWIFT/REUTERS, KASE, and the Kazakhstan Deposit Insurance Fund (KDIF), and was assigned Ba3 (Moody's, March 2026) and BB- (S&P, June 2026) credit ratings.

Revenue is generated through net interest income from lending (mortgages, auto, personal, business credit), commission and fee income (card transactions, money transfers, merchant acquiring, account maintenance), brokerage services (KASE and international markets), and insurance distribution (Freedom Life, auto, property). The bank sits at the intersection of multiple flagship strategic moves: a $2 billion NVIDIA Sovereign AI Hub partnership signed November 2025, an OpenAI ChatGPT Edu agreement covering 165,000 teachers, the announced acquisition of 99.32% of Turkish Bank A.Ş. (March 2026) targeting a 90-million-person market, and planned banking licenses in France and Turkey. Freedom Holding Corp.'s parent revenue reached $2.19 billion in FY2026 with $153.3 million net income (more than doubled year over year), and Freedom Bank Kazakhstan's total assets reached $12.38 billion as of December 31, 2025.

Name

Freedom Bank

Legal name

Freedom Bank Kazakhstan JSC

Website

https://bankffin.kz

Company type

Private

Founded year

2020

Operating status

Operating

Short description

Freedom Bank Kazakhstan JSC is a digital-first commercial bank and core banking subsidiary of Nasdaq-listed Freedom Holding Corp., serving retail, SME, and corporate customers through its Freedom SuperApp spanning cards, deposits, digital mortgages and auto loans, payments, and insurance distribution across Kazakhstan, Turkey, UAE, US, and Europe.

Ownership category

akta.pro rank

Headquarters

HQ city

Almaly

HQ country

Kazakhstan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income: Interest income from lending activities minus interest paid on deposits. Core banking revenue from mortgage loans, auto loans, personal loans, and business credit facilities.
2. Commission and Fee Income: Fees from payment processing, card transactions, money transfers (SWIFT, Zolotaya Korona), merchant acquiring (POS terminals), and account maintenance.
3. Brokerage Services: Securities brokerage and investment services revenue through integration with Freedom Holding's brokerage platform. Access to Kazakhstan Stock Exchange (KASE) and international markets.
4. Insurance Distribution: Commission revenue from cross-selling insurance products including life insurance (Freedom Life), auto insurance, and property insurance through the bank's distribution network.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels4 records

Core offering

Freedom Bank Kazakhstan JSC is a digital-first retail and commercial bank delivering personal and business banking through the Freedom SuperApp and a national branch network. Its core offerings include multi-currency payment cards (SuperCard, Freedom Card, premium and cobranded variants), time and savings deposits (Kopilka, Strategy, Capital, business deposits), digital mortgages, auto loans, unsecured cash loans, business credit, merchant acquiring (Internet acquiring and Freedom POS), SWIFT and domestic transfers, salary projects, tender guarantees, and access to brokerage and cross-sold insurance through the Freedom Holding ecosystem.

Product overview

Freedom Bank operates as a digital-first banking platform and part of Freedom Holding Corp (Nasdaq: FRHC), offering a comprehensive super-app ecosystem that combines traditional banking services with lifestyle and investment features. The core platform is the Freedom SuperApp, which integrates banking (deposits, loans, cards), payments (transfers, acquiring), insurance (life, auto, property), and investment services (brokerage, Freedom currency). Personal banking products include SuperCard (digital debit card), Freedom Card (multicurrency), Premium cards, and specialized cards like Power Card (children), Student Card, and cobranded cards (QJ League, Araldy Saqta for charity). Business banking encompasses Business/Premium Business Cards, Freedom POS (mobile acquiring), Digital Business Credit, Salary Project with 1C integration, and Tender Guarantees. Deposit products range from individual (Kopilka, Strategy, Capital, Freedom First combining insurance) to business deposits (Money, Maxi, Profit). The platform supports digital mortgages and car loans with fully online processing, card-to-card and SWIFT transfers, digital document storage via eGov.kz integration, and digital wallet payments via Apple Pay, Google Pay, Samsung Pay, and Garmin Pay.

Differentiator

Problem solved

Functional benefit

Brands

• Freedom SuperApp: Digital banking and lifestyle super-app integrating financial services with everyday experiences such as travel, food delivery, media, and health.
• Freedom Business

Products and services

• Freedom SuperApp Unified mobile application integrating banking services, payments, transfers, insurance policies, currency exchange, asset management, brokerage accounts, and lifestyle services including travel bookings and food delivery.
• Digital Mortgage Fully digital mortgage product with online application processing, no document collection required, with loan amounts up to 70 million tenge, terms from 5-20 years, effective rates from 7.2% to 24.9% (government program 7-20-25 available). Average loan amount 32.322M KZT and average decision time ~2 minutes.
• Digital Car Loan Fully digital auto financing product with online application processing, loan terms up to 7 years, maximum amount of 20 million tenge, borrower age 21-60 years.
• Cash Loan Unsecured personal loan with terms up to 5 years, amounts from 20,000 to 8 million tenge, borrower age 18-73 years, no commission for loan arrangement.
• Digital Business Credit Digital loan product for businesses and individual entrepreneurs with online application and approval process.
• SuperCard Digital debit card available in minutes with up to 5,000,000 tenge free withdrawals and transfers, annual effective rate from 0.05% to 13.80%, and up to 25% cashback in Freedom investment currency.
• Freedom Card Multicurrency debit card supporting KZT, USD, EUR, and RUB with favorable exchange rates, free issuance and delivery, and free withdrawals up to 500,000 tenge at any ATM.
• Power Card Debit card for children aged 5-18 with DC and Naruto themed designs, parental task rewards, spending controls, and Apple Wallet, GPay, Samsung Pay and Garmin Pay integration.
• Student Card Combined deposit and multicurrency card for students with DC Comics, Rick & Morty, and Naruto designs, up to 25% cashback in Freedom investment currency, and free transfers and cash withdrawals up to 500,000 tenge.
• Premium Freedom Card Premium multicurrency card for purchases and travel with up to 2,000,000 tenge commission-free transfers and withdrawals, special partner offers, and favorable exchange rates.
• Premium Deposit Card Premium card combining deposit and premium service features with card and deposit opening in 2 minutes, commission-free transfers up to 5,000,000 tenge, and support for 7 currencies (KZT, USD, EUR, RUB, CNY, TRY, AED).
• Investor Prestige Card Premium investment and spending card with commission-free transfers up to $6,000, annual yield on balance in USD, travel insurance up to $2,500,000, and exclusive partner offers.
• Freedom Banker Card Card for international card operations supporting KZT, USD, EUR, RUB currencies with commission-free transfers up to $1,000 and worldwide account replenishment and cash withdrawal capability.
• Invest Card Card providing instant access to investments with digital card issuance, free brokerage account replenishment and delivery, and 24/7 access to brokerage account.
• Freepay Card Card for automatic credit card and loan repayment with automatic payment on due date, free withdrawals up to 500,000 tenge at any ATM.
• Mega Syilyq Gift Card Gift card for purchases at MEGA shopping centers in Almaty and Astana with denominations of 10, 20, 50, 100, and 200 thousand tenge, available as digital or plastic card in 5 minutes.
• QJ League Cobrand Card Cobrand card with QJ League football league featuring up to 25% cashback in Freedom currency, combined deposit and multicurrency card functions.
• Araldy Saqta Charity Card Charity-focused deposit card supporting Aral Sea conservation with up to 10% cashback going to Aral Oasis public association.
• Araldy Saqta Premium Charity Card Premium charity deposit card with conservation focus offering up to 10% cashback to Aral Oasis and commission-free transfers up to 3,000,000 tenge.
• Business Card Corporate debit card for individual entrepreneurs and legal entities using company accounts, with free cash withdrawals up to 1,000,000 tenge monthly and free issuance and service.
• Premium Business Card Premium corporate card with medical insurance, lounge key business lounge access, Shymbulak lounge access, 24/7 concierge, fast track, and CIP hall access at Astana airport (2 visits monthly).
• Kopilka Savings Deposit Savings deposit in tenge, dollars, euros, and rubles with ability to add and withdraw funds, effective annual rates from 10.22% to 16.73% in tenge.
• Strategy Term Deposit Term deposit in tenge and dollars with add-on capability but no withdrawal option, effective annual rates from 7.95% to 19.51% in tenge.
• Capital Fixed-Term Deposit Fixed-term deposit in tenge only with no add-on or withdrawal capability, effective annual rates from 7.43% to 20.00%.
• Freedom First Life Savings Insurance Life savings insurance product combining deposit and life insurance features, with maximum effective annual rate of 2.76% in USD, contract terms of 2-5 years.
• Money Business Deposit Business deposit in tenge, dollars, euros, rubles, dirhams, and yuan with add-on and withdrawal capability, effective annual rates from 13.50% to 16.08% in tenge.
• Maxi Business Deposit Business savings deposit in tenge and dollars with add-on capability but no withdrawal, effective annual rates from 14.75% to 16.65% in tenge.
• Profit Entrepreneur Deposit Deposit for individual entrepreneurs and peasant farms in tenge, USD, EUR, and rubles with add-on and withdrawal capability, effective annual rates from 14.5% to 15.5% in tenge.
• Phone Number Transfer Instant money transfer to clients of any bank in Kazakhstan using only phone number, in tenge only, with 10 tenge commission per transfer and maximum amount of 500,000 tenge.
• Card-to-Card Transfer Transfer between any cards within Kazakhstan and internationally with commission up to 1% and maximum amount of $5,000.
• SWIFT International Transfer International money transfer in USD, EUR, RUB, or yuan with up to 0.5% commission and delivery within 3 business days.
• Online Payments / Internet Acquiring Service for accepting payments via QR codes, remote accounts, and other payment methods for businesses with commission-free acceptance for account holders.
• Freedom POS Mobile Acquiring Mobile merchant acquiring solution allowing businesses to accept card payments using a mobile device.
• Salary Project Payroll management service enabling online card issuance for employees, salary calculation in 5 minutes, and 0 tenge commission for salary transfers with integration to 1C accounting systems.
• Brokerage Services Securities market services including brokerage account opening, investment services, and nominal holding for both individuals and legal entities.
• Digital Tender Guarantees Digital tender guarantees for individual entrepreneurs and legal entities, plus other types of bank guarantees for business operations.
• Safe Deposit Boxes Secure storage service for valuables in bank safe deposit boxes with rental terms from 1 to 365 calendar days, multiple size options, and privacy protection.

Quantifiable outcome

• Digital mortgage decisions in 2 minutes average
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

AI capability8 records

Feature4 records

Partnerships

16 partnerships are on record, tiered core and flagship.

• Warner BroscoreGTM or Marketing Partner · 15 May 2026Branded payment card collaboration featuring Warner Bros intellectual property including Lord of the Rings, Game of Thrones, and DC Comics characters on Freedom Bank cards.
• Turkish Bank A.Ş.flagshipStrategic or Co-development Partner · 11 March 2026Freedom Holding signed agreement to acquire 99.32% stake in Turkish Bank A.Ş. from Özyol Holding and National Bank of Kuwait, subject to Turkish regulatory approval, for market entry into Turkey's banking market of approximately 90 million people.
• MastercardcoreStrategic or Co-development Partner · 28 January 2026Partnership with Mastercard and RISE Research to prepare Kazakhstan's first comprehensive AI Country Report, identifying AI as potential driver of economic growth.
• NVIDIAflagshipTechnology or Integration · 7 November 2025$2 billion Sovereign AI Hub partnership to develop a 100 MW AI infrastructure in Kazakhstan powered by NVIDIA's AI technology. Part of Kazakhstan's national AI strategy to strengthen Central Asia's AI capabilities.
• OpenAIflagshipStrategic or Co-development Partner · 6 November 2025Tripartite agreement with Kazakhstan government and OpenAI Inc. signed in Washington, D.C. to fund ChatGPT Edu access for 165,000 teachers in Kazakhstan, supporting national AI education initiatives.
• MastercardcoreTechnology or IntegrationPrincipal member of international payment systems VISA International and Mastercard Inc. Provides co-branded card programs including premium cards with airport lounge access, travel insurance, and exclusive offers.
• VISAcoreTechnology or IntegrationPrincipal member of VISA International providing payment card infrastructure for Freedom Bank's multi-currency card portfolio.
• RISE ResearchcoreStrategic or Co-development PartnerResearch partner for Kazakhstan's first AI Country Report examining over 100 AI startups, infrastructure, government strategy, and sector applications.
• Kazakhstan Ministry of Artificial IntelligenceflagshipStrategic or Co-development PartnerGovernment ministry partnered for AI development initiatives including the AI Country Report and broader national digital transformation strategy.
• Damu Entrepreneurship Development FundcoreChannel Partner/ Reseller/ DistributorPartner of Damu Fund providing preferential lending programs for small and medium businesses under government support schemes.
• Zolotaya KoronacoreTechnology or IntegrationMember of Zolotaya Korona international payment system for money transfers across CIS and selected international countries.
• WesternUnioncoreTechnology or IntegrationInternational money transfer services through WesternUnion system partnership for cross-border remittances.
• Kazakhstan Stock Exchange (KASE)coreTechnology or IntegrationParticipant of Kazakhstan Stock Exchange providing securities trading and investment services to customers.
• SWIFT and REUTERScoreTechnology or IntegrationMember of international interbank telecommunications systems S.W.I.F.T. and REUTERS for international banking operations.
• Freedom Life InsurancecoreChannel Partner/ Reseller/ DistributorCross-selling partner for life insurance products offered through Freedom Bank distribution network and SuperApp.
• Freedom Finance InsurancecoreChannel Partner/ Reseller/ DistributorCross-selling partner for auto insurance and other insurance products through the Freedom ecosystem.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Kaspi.kz: Kazakhstan's dominant SuperApp combining payments, marketplace, and banking (Kaspi Bank). Competes head-to-head with Freedom Bank for retail and SME customers and is the primary SuperApp benchmark for Freedom's ecosystem strategy.
• Halyk Bank: Kazakhstan's largest bank by assets and customer base with full retail, SME, and corporate offerings. Competes directly with Freedom Bank for deposits, mortgages, and corporate banking in the domestic market.
• ForteBank: Top-tier Kazakhstan commercial bank with strong retail, SME, and digital banking presence. Directly comparable in scale, target segments, and digital mortgage/consumer lending products.
• Bank CenterCredit: Major Kazakhstan universal bank serving retail, SME, and corporate clients with multi-currency products and digital channels. Directly competes for deposits, lending, and payment acquiring.

Emerging players

• T-Bank (Tinkoff): Russia's leading digital-only bank with a mobile-first SuperApp spanning banking, investments, and lifestyle services. Closely comparable in digital-only model and ecosystem approach, though serving a different geography.
• TymeBank: South African digital bank expanding into emerging markets with a low-cost, mobile-first model. Comparable in targeting underbanked retail/SME segments through digital channels.
• WeBank: China's pioneering digital-only bank with a mobile-first, AI-driven platform serving retail and SME customers. Comparable in scaling digital banking through a SuperApp-style ecosystem with AI personalization.

Broad incumbents

• Revolut: Global digital bank with a SuperApp offering multi-currency accounts, cards, transfers, investing, and lifestyle services. Comparable in product breadth, multi-currency positioning, and global expansion playbook.
• Nubank: Latin America's largest digital bank with a SuperApp-style ecosystem. Comparable as a digital-first challenger scaling rapidly from a single-country base into multi-geography operations.
• N26: European digital-only bank offering mobile-first retail banking, multi-currency accounts, and lifestyle integrations. Comparable in digital-first retail banking model, though focused on developed European markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Freedom Bank