From GlobeNewswire: 2025-02-07 09:33:00

Freedom Holding Corp (NASDAQ: FRHC) reported a 57% increase in total revenue for the quarter ended December 31, 2024, reaching $655.2 million compared to $418.6 million in the same period of 2023. Total assets also rose to $9.1 billion from $8.3 billion as of March 31, 2024.

The company’s revenue surge was attributed to a $89.6 million gain in net trading securities, a 125% increase in insurance underwriting income to $177.5 million, and a 47% growth in banking revenue. The revenue is now evenly distributed across brokerage, insurance, and banking segments.

Despite strong revenue growth, Freedom Holding Corp’s net income declined by 19% to $78.1 million due to increased fees and expenses. Fee and commission income increased from $120.2 million to $143.4 million. Total expenses for the quarter were $556.9 million, up from $307.0 million in Q3 2024 fiscal year.

The company remains committed to expanding its product portfolio, improving operational efficiencies, capitalizing on emerging market opportunities, and considering selective acquisitions. Freedom Holding Corp operates in 22 countries and has a strong presence in Central Asia, Europe, and the U.S., focusing on delivering innovative financial products to investors.



Read more at GlobeNewswire:: Freedom Holding Corp. Reports Strong Revenue Growth in Q3