Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 310

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 310
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 a net gain of $14.6 million  for the six months ended September 30, 2024.  The change was primarily due to the translation loss in the amount of $63.9 million which is mainly attributable to the weakening of Kazakhstan tenge against US dollar by 9%. This loss was offset by a $51.0 million gain on dealing transactions. This change is mostly attributable to Freedom Bank KZ which had a net gain on sales and purchases of foreign currency of $50.9 million for the six months ended September 30, 2025, compared to $29.9 million for the six months ended September 30, 2024.

Net gain on derivatives    

For the six months ended September 30, 2025, we had net gain on derivatives of $12.3 million compared to a net gain of $18.8 million for the six months ended September 30, 2024. The change was primarily attributable to our subsidiary, Freedom Bank KZ, which had an unrealized net loss of $0.6 million for the six months ended September 30, 2025, as compared to an unrealized net gain of $4.0 million for the six months ended September 30, 2024. 

88

Expense

The following table sets out information on our total expense for the periods presented.

Six months ended September 30, 2025Six months ended September 30, 2024Change(amounts in thousands)Amount%*Amount%*Amount%Fee and commission expense$149,033 16 %$170,984 19.6 %$(21,951)(13)%Interest expense215,669 22 %270,383 31.0 %(54,714)(20)%Insurance claims incurred, net of reinsurance160,208 17 %113,993 13.1 %46,215 41 %Payroll and bonuses186,244 19 %123,734 14.2 %62,510 51 %Professional services23,521 2 %15,513 1.8 %8,008 52 %Stock compensation expense38,550 4 %22,671 2.6 %15,879 70 %Advertising and sponsorship expense51,965 5 %54,329 6.2 %(2,364)(4)%General and administrative expense87,531 9 %