Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 16

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 16
---
 by $15.4 million due to expansion of the held-to-maturity portfolio. 

The interest income on securities available-for-sale increased by $4.9 million, or 54%, compared to the three months ended September 30, 2024. Such increase was due to the increase of volume of available-for-sale securities which is attributable to the purchase of debt securities of the Ministry of Finance of the Republic of Kazakhstan. We also experienced a $67.3 million, or 64%, decrease in interest income on trading securities. This decrease was primarily due to a lower volume of trading securities held during the period.

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 three months ended September 30, 2025 and 2024.

77

Three months ended September 30,20252024(amounts in thousands)Average balanceInterest-earning assetsTrading securities $1,447,575 (2)$3,293,124Loans issued1,721,399 (1)1,328,651Margin lending, brokerage and other receivables, net 3,403,502 1,598,152Available-for-sale securities, at fair value450,162 (2)285,749Held-to-maturity securities319,021 —Average yields(3)Trading securities 10.8 %13.4 %Loans issued16.4 %15.7 %Margin lending, brokerage and other receivables, net8.8 %8.7 %Available-for-sale securities, at fair value12.9 %13.2 %Held-to-maturity securities20.7 %— %Interest incomeInterest income on loans to customers$66,678$49,393Interest income on margin loans to customers72,81433,867Interest income on trading securities 37,669104,992Interest income on securities available-for-sale 13,8749,003Interest income on held-to-maturity securities15,356—Other interest income5,2716,019Total interest income$211,662$203,274

(1) Average balance and average yields relate to margin lending activities.

(2) Average balance, average yields, and interest income relates to corporate debt, non-US sovereign debt and US sovereign debt activities.

(3) Average yields are computed by dividing interest income by the corresponding average monthly balances.

 Interest income on margin loans to