/KASE, June 14, 24/ – Freedom Holding Corp. (USA), whose shares are officially
listed on the Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release dated June 14, 2024:
quote
At the end of fiscal year 2024, revenue of Freedom Holding Corp. amounted to
$1.635 bn. Its growth by $839.4 mln (+105%) was due to the following factors:
- The increase in interest income by $533.5 mln is due to the expansion of the
trading portfolio and the share of bonds in it. In addition, there was an increase
in interest income on bank loans to customers, margin loans, reverse
repurchase agreements and due from banks, as well as available-for-sale
securities.
- Insurance underwriting income increased from $115.4 mln to $264.2 mln
(+129%) primarily due to the volume of insurance premiums received, which, in
turn, was due to the expansion of insurance operations and an increase in the
number of existing insurance contracts.
- Commission income increased by $113.1 mln (+35%). The growth was mainly
due to an increase in the number of retail brokerage clients. In addition, there
was an increase in fee income from payment processing and banking services.
- Net profit on trading securities for the year increased from $71.1 mln to $133.9
mln (+88%). During the year, realized profit was received on trading securities,
which relates to debt securities of the Ministry of Finance of the Republic of
Kazakhstan sold during the year.
- The increase in net profit from foreign currency transactions by $20.4 mln was
due to the expansion of Freedom Bank's activities in the purchase and sale of
foreign currency.
unquote
The complete press release is available on:
-
https://kase.kz/files/emitters/FRHC_KZ/frhc_kz_relizs_140624_kz.pdf – in Kazakh.
-
https://kase.kz/files/emitters/FRHC_KZ/frhc_kz_relizs_140624_2024.pdf – in Russian.
[2024-06-14]