Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 131

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 131
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 Kazakhstan, payment services providers in Uzbekistan and Kyrgyzstan hold licenses from the National Bank of the Kyrgyz Republic and the Central Bank of Uzbekistan, respectively; and (e) a banking license in Tajikistan issued by the National Bank of Tajikistan. Our U.S. broker-dealer subsidiary is subject to regulatory oversight by U.S. authorities, including the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA), with respect to its brokerage and investment advisory activities in the U.S. In addition, following receipt of a principal approval by the Turkey's financial regulatory and supervisory authority granted on January 9, 2025, we are in the process of obtaining a license to provide brokerage services in Turkey.The table below presents net capital/eligible equity, required minimum capital, excess regulatory capital and retained earnings as of September 30, 2025 for the Company and each of subsidiaries that are regulated entities that is material for our consolidated financial statements. 

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Table of ContentsFREEDOM HOLDING CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

(amounts in thousands)Regulated activitiesNet Capital/Eligible EquityRequired Minimum capital/solvencyExcess regulatory capitalRetained earnings Freedom Holding Corp.Bank holding company$486,790 $200,000 $286,790 $(121,966)Freedom EUBrokerage451,258 19,320 431,938 562,152 Freedom Bank KZBank388,080 182,333 205,747 184,141 Freedom GlobalBrokerage141,067 34,827 106,240 176,288 Freedom LifeLife Insurance84,742 10,742 74,000 86,283 Freedom Armenia ("Freedom AR")Brokerage73,905 786 73,119 76,856 Freedom KZBrokerage42,915 358 42,557 104,170 Freedom InsuranceProperty and Casual Insurance41,631 10,742 30,889 41,787 Other regulated operating subsidiariesOther18,492 260 18,231 (30,420)$1,728,879 $459,368 $1,269,511 $1,079,291 According to the requirements of National Bank of Republic of Kazakhstan, the regulator of Freedom KZ and