Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 34

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 34
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 the monthly average balances and average interest rates for the major categories of interest-bearing liabilities for the six months ended September 30, 2025 and 2024.

Six months ended September 30,20252024(amounts in thousands)Average balanceInterest-bearing liabilitiesSecurities repurchase agreement obligations1,558,222 $2,601,581 Customer liabilities (1)1,397,529 875,660 Debt securities issued650,025 265,992 Margin lending payable700,213 620,513 Average ratesSecurities repurchase agreement obligations10.5 %14.2 %Customer liabilities (1)12.1 %11.0 %Debt securities issued9.8 %10.8 %Margin lending payable5.5 %10.1 %Interest expenseInterest expense on securities repurchase agreement obligations$79,512 $178,523 Interest expense on customer accounts and deposits82,356 46,823 Interest expense on debt securities issued31,251 13,938 Interest expense on margin lending payable18,972 30,539 Other interest expense3,578 560 Total interest expense$215,669$270,383 

(1) Average balance, average rates, and interest expense relates to interest-bearing deposits.

The following table sets forth the effects of changing rates and volumes on interest. 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.

Six months ended September 30,2025 vs 2024(Decrease)/increase due to change in(amounts in thousands)RateVolumeNetInterest expenseInterest expense on securities repurchase agreement obligations$(39,188)(59,823)(99,011)Interest expense on customer accounts and deposits$5,323 30,210 35,533 Interest expense on debt securities issued$(1,075)18,388 17,313 Interest expense on margin lending payable$719 (12,286)(11,567)Other interest expense$3,018 — 3,018 Total$(31,204)$(23,510)$(54,714)

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