Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 295

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 295
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 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.

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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 customers includes income accrued on off-balance sheet arrangements. The monthly average balance of these arrangements is not included in the table above. These off-balance sheet arrangements mainly included repurchase agreements of our brokerage customers. Therefore, as of September 30, 2024, the monthly average balance of off-balance sheet arrangements was $688.8 million, with a weighted average interest rate of 8%. Following that date, we had no such off-balance sheet arrangements on which we charge an interest. As of September 30,