Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 269

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 269
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 approximately $29.5 million, representing 4% of our total interest income from margin lending for that period.

For the nine months ended December 31, 2024, interest income on loans to customers increased by $29.1 million, or 24%, compared to the nine months ending December 31, 2023 due to the growth of Freedom Bank KZ's customer loan portfolio between the two periods. 

77

The following table provides a summary of the monthly average balances and average interest rates for the major categories of our interest-earning assets for the nine months ended December 31, 2024 and 2023.

Nine months ended December 31,20242023(amounts in thousands)Average balanceInterest-earning assetsTrading securities $3,309,753 $3,352,968 Loans issued1,360,755 1,160,390 Margin lending, brokerage and other receivables, net 1,856,741 846,872 Available for sale securities, at fair value310,941 221,269 Average yieldsTrading securities 12.6 %12.7 %Loans issued15.3 %14.5 %Margin lending, brokerage and other receivables, net9.3 %12.6 %Available- for- sale securities, at fair value12.4 %15.6 %Interest incomeInterest income on trading securities $307,786 $313,739 Interest income on loans to customers152,849 123,730 Interest income on margin loans to customers127,382 78,872 Interest income on available- for- sale securities28,430 25,476 Other interest income18,672 14,606 Total interest income$635,119 $556,423 

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 $688.8 million and $569.0 million, respectively, and the weighted average interest rate was 8%, and 12%, 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