Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 277

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 277
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Table of ContentsFREEDOM HOLDING CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

(amounts in thousands)Regulated activitiesNet Capital/Eligible EquityRequired Minimum capital/solvencyExcess regulatory capitalRetained earnings Freedom Holding Corp.Bank holding company$486,790 $200,000 $286,790 $(121,966)Freedom EUBrokerage451,258 19,320 431,938 562,152 Freedom Bank KZBank388,080 182,333 205,747 184,141 Freedom GlobalBrokerage141,067 34,827 106,240 176,288 Freedom LifeLife Insurance84,742 10,742 74,000 86,283 Freedom Armenia ("Freedom AR")Brokerage73,905 786 73,119 76,856 Freedom KZBrokerage42,915 358 42,557 104,170 Freedom InsuranceProperty and Casual Insurance41,631 10,742 30,889 41,787 Other regulated operating subsidiariesOther18,492 260 18,231 (30,420)$1,728,879 $459,368 $1,269,511 $1,079,291 According to the requirements of National Bank of Republic of Kazakhstan, the regulator of Freedom KZ and Freedom Life, capital is adjusted through subtraction of non-liquid assets. Consequently, net capital for regulatory purposes may be lower than retained earnings balances. For the purposes of capital requirements applicable to Freedom EU, which is regulated by the Cyprus Securities and Exchange Commission and Freedom Global regulated by Astana Financial Services Authority, current year profit is not included within net capital for regulatory purposes, as profits can only be included in net capital after a statutory audit is completed. The table below presents net capital/eligible equity, required minimum capital, excess regulatory capital and retained earnings as of March 31, 2025 for each of our subsidiaries that are regulated entities that is material for our consolidated financial statements.(amounts in thousands)Regulated activitiesNet Capital/Eligible EquityRequired Minimum capital/solvencyExcess regulatory capitalRetained earnings Freedom Holding Corp.Bank holding company$526,906 $200,000 $326,906 $(256,096)Freedom EUBrokerage450