Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 290

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 290
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 months ended September 30, 2025, as compared to a net gain on trading securities of $68.3 million for the three months ended September 30, 2024. The change was attributable to the decrease in the market price of Kazakhstan sovereign bonds held in our proprietary portfolio during the quarter.

•Our fee and commission income for the three months ended September 30, 2025 was $132.2 million, an increase of $11.2 million, or 9%, compared to the three months ended September 30, 2024. The increase was primarily driven by higher fee and commission income from brokerage services and agency fees, partially offset by lower income from banking services and payment processing.

•We had a net loss on derivatives for the three months ended September 30, 2025 in the amount of $3.2 million, a decrease of $9.5 million, or 150%, compared to the three months ended September 30, 2024. The loss for the three months ended September 30, 2025 was primarily due to losses on currency swaps.

We had total expense of $465.6 million, for the three months ended September 30, 2025, as compared to $457.7 million for the three months ended September 30, 2024. The increase was mainly attributable to increases in payroll and bonuses, insurance claims incurred (net of reinsurance), cost of sales, general and administrative expense, advertising and sponsorship expense and stock based compensation expense.

We had net income of $38.7 million for the three months ended September 30, 2025, as compared to $114.5 million for the three months ended September 30, 2024. Our Brokerage, Banking, Insurance, and Other segments contributed net income of $126.6 million, net loss of $32.1 million, net income of $8.5 million and net loss of $64.4 million, respectively, to our total net income for the three months ended September 30, 2025. 

Our total assets increased to $10.3 billion as of September 30, 2025 from $9.9 billion as of March 31, 2025. 

We had approximately 776,000 total retail brokerage customers as of September 30, 2025 as compared to approximately 683,000 as of March 31, 2025. We had approximately 3,617,000 banking customers at our Freedom Bank K