Freedom Holding Corp.’s Operating Subsidiaries Receive Positive Outlook Upgrade from S&P Global Ratings

Summary:

1. S&P Global Ratings has revised the outlook on Freedom Holding Corp.’s core operating subsidiaries to "Positive," affirming their credit ratings at ‘B+/B’.
2. The revised outlook acknowledges Freedom Holding’s progress in consolidating risk management and compliance functions.
3. The holding company has shown resilience, with strengthened capitalization and market leadership in Kazakhstan and growth in Europe.

   Article:

   International credit rating agency S&P Global Ratings recently announced a positive outlook for Freedom Holding Corp.’s core operating subsidiaries, including Freedom Finance JSC, Freedom Finance Europe Ltd., Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC. This revision reflects the company’s significant achievements in enhancing risk management and compliance functions across its operations.

   CEO Timur Turlov expressed pride in the progress made, stating, "We’ve turned fragmented control functions into a unified, centralized system at the group level. This decision reflects the maturity of our governance model." Over the past two years, Freedom Holding has implemented a centralized risk management policy, established a compliance project management office, and expanded its team of risk and compliance professionals.

   In terms of resilience, Freedom Holding saw its overall capitalization strengthen in fiscal year 2025, with a rise in the risk-adjusted capital ratio supported by moderate balance sheet growth and a resilient brokerage business. The company serves a large customer base globally, with its SuperApp serving as a key digital tool for financial activities.

   S&P highlighted Freedom’s market leadership in Kazakhstan’s retail brokerage sector and its expansion in Europe, with a growing client base in Cyprus and offices in multiple EU countries. The company’s sustainable business model, supported by income from brokerage operations, has contributed to its success.

   Freedom Holding Corp., listed on the Nasdaq, operates in 22 countries and offers a range of financial and technology services through its integrated platform. With a focus on investment, banking, insurance, and digital services, the company continues to demonstrate strength and growth in the competitive financial market.

   For further information, please visit the Freedom Holding Corp. website. Contact Public Relations representative Natalia Kharlashina at [email protected] for any inquiries.