Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 257

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 257
---
Other interest income5,6115,025Total interest income$224,688$204,375

Interest income on margin loans to customers includes income accrued on off-balance sheet arrangements, the monthly average balance of which is not included in the table above. These off-balance sheet arrangements mainly included repurchase agreements of our brokerage clients. As of December 31, 2024 and 2023, the monthly average balance of off-balance sheet arrangements were   and $788.2 million, respectively, and the weighted average interest rate was 0.0%, and 11.7%, respectively. 

The following table sets forth the effects of changing rates and volumes on interest income. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate), The net column represents the sum of the prior columns. Changes attributable to changes in both rate and volume that cannot be segregated have been allocated proportionally based on changes due to rate and the changes due to volume.

69

Three months ended December 31,2024 vs 2023Increase/ (decrease) due to change in(amounts in thousands)RateVolumeNetInterest incomeInterest income on trading securities$(12,983)$(4,211)$(17,194)Interest income on loans to customers(269)1,829 1,560 Interest income on margin loans to customers(2,575)34,387 31,812 Interest income on available-for-sale securities(1,264)4,812 3,549 Other interest income— — 586 Total interest income$(17,091)$36,817 $20,313 

Net gain on foreign exchange operations

For the three months ended December 31, 2024, we realized a net gain on foreign exchange operations of $3.9 million compared to a net gain of $38.8 million for the three months ended December 31, 2023. The net gain for the three months ended December 31, 2024, is primarily attributable to a $23.2 million gain from foreign currency transactions, partially offset by a $19.2 million translation loss. The decrease compared to the prior-year period was mainly driven by a 9.1% depreciation of the Kazakhstan tenge against the U.S. dollar, which led to increased foreign exchange currency losses for our subsidiaries operating in Kazakhstan.

Net gain