Freedom Holding Corp. in 2024: Top Ten Achievements
December 26, 2024 (Investorideas.com Newswire) 2024 has become a year of achievements and a new record for Freedom Holding Corp. Under the leadership of Timur Turlov, the founder and CEO of the holding, Freedom Holding has continued to enhance its position in the global arena, expand its ecosystem and introduce innovations. S&P Global Ratings recognized the significant progress made by Freedom Holding Corp. this year. It upgraded the long-term ratings of four subsidiaries from 'B' to 'B+' on the international scale and from 'kzBBB-' to 'kzBBB' on the national scale.
We have gathered the company's top 10 most impressive achievements, which reflect its ambitious growth, sustainability and strategic development.
1. Digital ecosystem: SuperApp and unique cashback
Freedom Holding Corp. has created a unique ecosystem, combining a dozen companies offering various financial and lifestyle services. This year, the holding also launched Freedom SuperApp, its key project that has combined payments, asset management, brokerage accounts, foreign exchange and many other services in one app.
As of today, more than 8 million unique users consume products and services within the ecosystem. At the same time, holding projects like Ticketon (accounting for 70% of the ticket market in Kazakhstan) and Arbuz.kz demonstrate a high tempo of growth. For instance, Ticketon has doubled its revenue this year, while Arbuz.kz has expanded its assortment and improved logistics. According to Timur Turlov, both companies have become integral parts of the holding's ecosystem; they continue to develop and have already started to yield profit as independent business lines.
Another important novelty was the launch of the investment currency of Freedom Holding Corp., a unique bonus program within the holding. The exchange rate of the currency has grown by more than 60% since its inception in May. This currency is an innovative instrument linked to the share value of FRHC (the company's ticker on Nasdaq); it combines functions of cashback and financial yield.
2. Financial results: Record-high revenue
The 2024 fiscal year (starting on April 1, 2023, and ending on March 31, 2024) was a record-high for Freedom Holding. Thus, the company reported $1.64 billion in revenue, a 105% increase year-on-year, while its net profit reached $375 million (+82%).
And these rates are still growing: over the two quarters of the 2025 fiscal year, the holding already reported $1.3 billion in revenue. Net profit reached $34.3 million in Q1 and $114.5 million in Q2. The number of brokerage accounts has exceeded 560,000, whereas the client base of the holding bank has reached 1.2 million customers.
Moreover, for the first time, the company complemented its financial report with its sustainability report, turning the spotlight on its commitment to ESG principles with confidence.
3. Five years on Nasdaq and 16 years of growth
In November, Freedom Holding Corp. celebrated its 16th anniversary. Over those years, the company has gone a long way from a local broker to a global actor with branch offices in 22 countries.
In December 2024, the holding's market cap, for the first time, exceeded $8 billion, as the share value of FRHC on Nasdaq has grown by more than nine-fold since its debut on the stock market (the current price of the stock is about $130 per share). The stock is also part of the AIX Qazaq Index, which reflects the profitability of the most liquid Kazakhstani stocks, accounting for 15% in the index.
"Being a public company on Nasdaq was like a test for us, and we've passed it with flying colors. This is a sign of quality, confirming our commitment to high standards," said Timur Turlov during a celebration of the fifth anniversary of listing on the American stock exchange. In July, Freedom Holding also held a cross-listing on the Astana International Exchange (AIX).
4. Global success of the broker
Freedom Broker (two companies - Kazakhstan's Freedom Finance JSC and international Freedom Finance Global - operate under this brand) is one of the key growth drivers for the holding. The two brokerage companies offer access to Kazakhstani stock exchanges and large global platforms, including Nasdaq and the London Stock Exchange (LSE).
Constantly pursuing new opportunities for its clients, Freedom Finance Global introduced trade with options earlier this year, offering customers the ability to use these popular stock market instruments to earn dozens and even hundreds of percent in yield over a short period of time. Previously, this instrument was available to qualified investors only.
Moreover, this year, Freedom Global has become a member of the International Capital Market Association (ICMA), representing Kazakhstan and opening new opportunities for international cooperation.
5. Tradernet and AI innovations
Freedom Holding Corp. runs its own digital platform Tradernet (aka Freedom Broker). After recent updates, the platform has become even more convenient and functional. Thanks to integrated artificial intelligence (AI), the tool offers users improved analytics and personalized investment recommendations.
Currently, the platform supports 19 languages, ensuring access to dozens of stock exchanges throughout the world. "We are going to turn Freedom Broker into the most convenient tool for retail investors and continue improving it," Turlov highlighted.
6. Freedom Bank: More than 1 million clients
The importance of Freedom Bank within the holding ecosystem is becoming greater. In 2024, the bank increased its capital, boosting its development. The client base of the bank has exceeded 1.2 million customers, while the growth potential of the bank is about 10 million people, as Turlov noted.
The bank is actively introducing new technologies, including the aforementioned SuperApp. In addition, this year the bank obtained a banking license in Tajikistan, taking one more step toward geographic expansion. The bank has also been expanding its presence in Uzbekistan, offering clients up-to-date and accessible financial solutions.
7. Telecom and streaming: New business lines
Freedom Telecom, which is a partner of the global telecommunications giant Vodafone, has been building a fiber-optic line (1,200 kilometers), establishing groundwork for 14,000 households being connected to high-speed internet. In 2025, the company plans to complete the construction of its basic network in 11 cities across Kazakhstan and expand access to its public Wi-Fi.
Additionally, Freedom Media, a video streaming platform and a subsidiary of Freedom Telecom launched in 2024, offers about 20,000 movies and TV series, including unique projects in the Kazakh language and live streaming of UEFA Champions League matches. "Our goal is to become the leading video streaming platform in Central Asia with the most popular library of high-quality local and global content," Turlov emphasized.
8. Expansion to Europe
Freedom Finance Europe, operating under the Freedom24 brand, is demonstrating impressive results. Its client base in Europe has exceeded 300,000 people, while the company itself was acknowledged as the best in Germany, Italy and Portugal (in the Best Customer Service and Best Multiproduct Broker categories). Since 2021, the company has possessed direct membership in Euroclear.
The holding has strengthened its position in the EU by opening new representative offices in Austria, the Netherlands and Bulgaria. Currently, Freedom plans to transfer digital products it successfully tested in Kazakhstan to Europe for further scaling. The holding hasn't ruled out the possibility of acquiring a bank there.
9. Achievement in Central Asia and the Middle East
Freedom Holding Corp. is gaining ground in its role as a leading provider of financial services in its home region of Central Asia and expanding its presence in the Middle East. Apart from obtaining a banking license in Tajikistan, Freedom has also set its sights on the United Arab Emirates and Turkey as very promising markets in terms of size and importance for the entire Turkic world. The holding has also continued developing its brokerage services in Uzbekistan, Armenia and Kyrgyzstan.
"Central Asia and the Middle East have great potential," Turlov says. "Financial services of ours such as the Tradernet platform and banking services might be easily adjusted to different markets, and we have no doubts that we can obtain a significant market share in those countries."
10. Breakthrough in media: Start of partnership with Tatler Asia
This year, Timur Turlov signed an exclusive agreement with Tatler Asia. Under its partnership with the legendary brand, the magazine is going to enter the markets of Kazakhstan, Uzbekistan, Azerbaijan and Turkey. The first issue of Tatler Kazakhstan, devoted to the most influential and well-known people in the country, was published in early December. CEO of Freedom Holding Corp. Timur Turlov has become the chair of the supervisory board in Tatler Kazakhstan.
"We trust in Kazakhstan as a country-trendsetter, one of the global centers of creativity, fashion and standards of living," he underlined.
Tatler Kazakhstan has become the 10th international market where the brand is represented. The editorial staff now plans to publish 10 issues of the magazine per year, along with establishing an online version of the outlet available in Russian and Kazakh. The magazine is expected to serve as a bridge between local and international audiences, strengthening the country's position as a cultural hub in Central Asia.
Freedom Holding Corp. is approaching the year's end at the height of success, proving that a strategy focused on sustainable growth and digital innovations can yield positive results even amid global uncertainty. "Our goals are ambitious. We want our ecosystem to be not only the most popular in the region but also capable of competing by international standards. There is a long way ahead, but I am convinced that we are heading in the right direction," Turlov emphasized.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions.. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. This article is a third party guest post published content and not the content of Investorideas.com . Learn more about posting your articles at http://www.investorideas.com/Advertise/
Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
