S&P Global Ratings has revised its outlook for Freedom Finance Europe Ltd., which operates under the Freedom24 brand, from stable to positive.
At the same time, the credit rating agency affirmed the company鈥檚 long- and short-term issuer credit ratings at 鈥楤+/B鈥.
The improved outlook, the agency explained, reflects the company鈥檚 efforts to strengthen its risk management framework and its continued rapid expansion across Europe.
S&P also revised the outlook to positive for several other subsidiaries of Freedom Holding Corp., including Freedom Finance JSC, Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC.
These subsidiaries also retained their 鈥楤+/B鈥 long- and short-term credit ratings.
The long-term credit rating of the parent company, Freedom Holding Corp., was affirmed at 鈥楤-鈥 with a stable outlook.
S&P highlighted that the group had made significant strides in enhancing its risk management and compliance structure.
鈥淥ver the past two years, Freedom Group has established consolidated risk management and compliance and has greatly strengthened these functions in its financial operating subsidiaries鈥 the agency said in its statement.
S&P added that鈥 these improvements are particularly critical given the group鈥檚 organisational complexity and its rapid growth through both organic expansion and acquisitions鈥.
The agency further mentioned that the group鈥檚 capitalisation has improved, supported by steady revenue from brokerage services.
Customer engagement through its digital ecosystem was also identified as a positive contributing factor.
In May 2025, Freedom Holding Corp.鈥檚 market capitalisation surpassed $10 billion dollars. This marked a twelve-fold increase since its Nasdaq initial public offering in 2019.
Evgenii Tiapkin, Executive Director of Freedom24, welcomed the decision by S&P. 鈥淭his outlook upgrade reflects the significant progress we鈥檝e made in strengthening our risk management and compliance systems, which are foundational to our long-term strategy鈥 he said.
He also stated that 鈥渋t also acknowledges our rapid expansion across European markets and our focus on building a customer-centric, technology-driven financial ecosystem鈥.
鈥淲e鈥檙e 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,鈥 Tiapkin added.
Furthermore, Freedom24 said it 鈥渞emains committed to further enhancing its risk and compliance frameworks鈥.
It added that it would also 鈥渃ontinue expanding its portfolio of innovative financial services across Europe and beyond鈥.