Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 236

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 236
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 credit institution that issues loans in Kazakhstan under simplified lending procedures. FFIN Credit was created as a pilot project to test and improve the scoring models used for qualifying and issuing loans. The principal operation of FFIN Credit is to provide loans to customers online using biometric identification and its proprietary scoring process. Following the successful pilot, the Company intends to either acquire FFIN Credit from Mr. Turlov or implement an in-house solution to replicate its functions, ensuring continuity and scalability of the lending operations. The bank has legal ownership over purchase from FFIN Credit uncollateralized retail loans, however, in accordance with U.S. GAAP requirements, the Group does not recognize those loans, since effective control over the transferred loans are maintained by FFIN Credit. Instead, the Group recognizes 

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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)

the loans receivable from FFIN Credit presented on the Condensed Consolidated Balance Sheets within the loans issued. As of September 30, 2025 and March 31, 2025, right of claims for purchased retail loans amounted to $234,754 and $183,635, respectively.The total accrued interest for loans issued amounted to $16,562 as of September 30, 2025 and $13,385 as of March 31, 2025. Loans issued as of March 31, 2025, consisted of the following: Amount OutstandingDue DatesAverage Interest Rate Fair Value ofCollateralLoan Currency Mortgage loans$924,530 April 2025 - March 205011.4%$924,386 KZTLoans to SME244,217 April 2025 - February 203228.6%35,141 KZTRight of claim for purchased retail loans183,635 April 2025 - March 203015.0%183,635 KZTCar loans156,340 April 2025 - April 203224.2%155,320 KZTCorporate loans149,143 April 2025 - December 203119.1%92,739 KZTRetail loans4,847 September 2025 - March 204521.2%663 KZTOther7,838 April 2025 - September 202918.0%/