Press Release
S&P Global Ratings has revised its outlook on Freedom Finance Europe Ltd., operating under the Freedom24 brand, from stable to positive, while affirming its 'B+/B' long- and short-term issuer credit ratings. The revision reflects the company’s strengthened risk management framework and its continued rapid expansion across Europe.
The rating agency also revised the outlook to positive for several other Freedom Holding Corp. subsidiaries, including Freedom Finance JSC, Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC, while affirming their 'B+/B' credit ratings. The long-term rating for the parent company, Freedom Holding Corp., was affirmed at 'B-' with a stable outlook.
S&P emphasised the group’s significant progress in building a more resilient and centralised risk management and compliance structure. “Over the past two years, Freedom Group has established consolidated risk management and compliance and has greatly strengthened these functions in its financial operating subsidiaries,” the agency said in its statement. These improvements are particularly important given the group’s organisational complexity and its rapid growth through both organic expansion and acquisitions, S&P added.
S&P also noted that the group’s capitalization has strengthened, supported by steady income from brokerage services and growing customer engagement through its digital ecosystem. In May 2025, Freedom Holding Corp.’s market capitalisation surpassed $10 billion, marking a 12-fold increase since its Nasdaq IPO in 2019.
Evgenii Tiapkin, Executive Director of Freedom24, welcomed the S&P decision: "This outlook upgrade reflects the significant progress we’ve made in strengthening our risk management and compliance systems, which are foundational to our long-term strategy. It also acknowledges our rapid expansion across European markets and our focus on building a customer-centric, technology-driven financial ecosystem. We’re proud to see our efforts recognised by S&P as we continue to strengthen our position as a trusted partner for investors across Europe and globally.”
Freedom24 remains committed to further enhancing its risk and compliance frameworks while continuing to expand its innovative financial services across Europe and beyond.
