Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 253

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 253
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%$418,634 100 %$236,556 57 %

*  Percentage of total revenue, net.

Fee and commission income 

The following table sets forth information regarding our fee and commission income for the periods presented.

Three months ended December 31,(amounts in thousands)20242023Amount Change% ChangeBrokerage services$118,841 $99,813 $19,028 19 %Commission income from payment processing7,137 8,977 (1,840)(20)%Banking services8,360 1,331 7,029 528 %Underwriting and market-making services 1,549 3,344 (1,795)(54)%Other fee and commission income7,549 6,694 855 13 %Total fee and commission income$143,436 $120,159 $23,277 19 %

The following table sets out the components of our fee and commission income as a percentage of total fee and commission income, net for the periods presented.

Three months ended December 31, 20242023(as a % of total fee and commission income)Brokerage services83 %83 %Commission income from payment processing5 %7 %Banking services6 %1 %Underwriting and market-making services1 %3 %Other fee and commission income5 %6 %Total fee and commission income100 %100 %

For the three months ended December 31, 2024, total fee and commission income was $143.4 million, an increase of $23.3 million, or 19%, as compared to fee and commission income of $120.2 million for the three months ended December 31, 2023. 

66

Fee and commission income from brokerage services for the three months ended December 31, 2024 was $118.8 million, representing a 19% increase as compared to $99.8 million for the three months ended December 31, 2023. This increase was primarily due to an increase in the number of retail brokerage customers from 458,000 as of December 31, 2023 to 618,000 as of December 31, 2024. The increase in the number of customers was attributable in part to the migration of customers from our affiliate FST Belize to brokerage companies within our Group between the two quarters. The increase was offset in part by a decrease in fee and commission