Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 175

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 175
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 discussion of revenue of our segments for the six months ended September 30, 2025 compared to the six months ended September 30, 2024. 

Brokerage Segment

•In the six months ended September 30, 2025, the Brokerage segment experienced an increase in total revenue, net, primarily driven by a $38.5 million increase in fee and commission income, reflecting a general increase in brokerage activity between the two periods. In addition, interest income contributed to the growth, rising by $27.5 million, largely due to increased usage of margin loans for trades by our customers. Net gain on trading securities also increased by $8.7 million due to an increase in the value of securities positions. However, this growth was partially offset by a $10.4 million decrease in net (loss)/gain on foreign exchange operations and a $1.5 million decrease in other income.

Banking Segment

•In the six months ended September 30, 2025, total revenue, net in the Banking segment decreased as compared to the six months ended September 30, 2024, mostly driven by a $57.7 million decrease in interest income due to a reduction in the size of the trading portfolio, a $32.4 million decrease in fee and commission income due to SuperApp cashback payments, a $2.8 million decrease in net gain on derivative due to decreased operations with such instruments, and a $2.8 million decrease in net gain on foreign exchange operations due to a depreciation of the U.S. dollar against the Kazakhstan tenge between the two periods. These decreases were partially offset by a $41.7 million increase in net gain on trading securities due to the price increase on the majority of the governmental securities, and a $13.2 million increase in other income.Insurance Segment

•In the six months ended September 30, 2025, total revenue, net in the Insurance segment decreased mainly due to $11.3 million decrease in insurance underwriting income. The decrease was partially offset by $4.8 million increase in net gain/(loss) on trading securities, a $4.4 million increase in interest income due to increase of trading portfolio, and a $1.1 million increase in other income.

              Other Segment

•In the six months ended September 30, 2025, total revenue, net in the Other segment decreased mostly due to a decrease of $14.9 million in net gain on foreign exchange operations from FRHC