Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 268

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 268
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 2023, having appreciated by $16.2 million. The majority of the unrealized net gain was attributable to appreciated debt securities of the Ministry of Finance of the Republic of Kazakhstan, which appreciation was primarily due to a decline in the National Bank of the Republic of Kazakhstan's base interest rate during the nine months ended December 31, 2023.

76

Interest income

The following tables set forth information regarding our revenue from interest income for the periods presented.

Nine months ended December 31,(amounts in thousands)20242023Amount Change%ChangeInterest income on trading securities$307,786 $313,739 $(5,953)(2)%Interest income on loans to customers152,849 123,730 29,119 24 %Interest income on margin loans to customers153,279 111,306 41,973 38 %Interest income on securities available-for-sale28,430 25,476 2,954 12 %Interest income on reverse repurchase agreements and amounts due from banks18,672 12,012 6,660 55 %Other interest income— 2,594 (2,594)(100)%Total interest income$661,016 $588,857 $72,159 12 %

Nine months ended December 31,20242023(as a % of total interest income)Interest income on trading securities47 %54 %Interest income on loans to customers23 %21 %Interest income on margin loans to customers23 %19 %Interest income on securities available-for-sale4 %4 %Interest income on reverse repurchase agreements and amounts due from banks3 %2 %Total interest income 100 %100 %

For the nine months ended December 31, 2024, we had interest income of $661.0 million, representing an increase of $72.2 million, or 12%, compared to the nine months ended December 31, 2023. The increase in interest income was primarily attributable to increases in interest income on margin loans to customers, loans to customers and securities available-for-sale. Interest income on margin loans to customers increased by $42.0 million, or 38%, due to an increase in the usage of margin loans for trades by our clients between the two periods. For the nine months ended December 31, 2024, we earned interest income from margin lending from a market maker customer at our Freedom Global subsidiary in an amount of