17.06.2024 14:33

Finance.yahoo: Freedom Holding Corp. Reports Fiscal Year 2024 Financial Results

ALMATY, KAZAKHSTAN / ACCESSWIRE / June 14, 2024 / Freedom Holding Corp. (NASDAQ:FRHC) ("Freedom", or the "Company"), a multi-national diversified financial services holding company with a presence through its subsidiaries in 20 countries, today announced its financial results for the 12 months ended March 31, 2024, or fiscal 2024.

Fiscal 2024 Highlights:

  • Revenue totaled approximately $1.6 billion compared to $796 million for the prior fiscal year, an increase of 105%, primarily attributable to an increase in interest income, fee and commission income, and insurance underwriting income.

  • Fee and commission income was $440 million, an increase of 35% from $327 million for fiscal 2023, driven by an increase in number of retail brokerage customers from 370,000 in 2023 to 530,000 in 2024, as well as increased trading volumes across key markets.

  • Interest income increased by 181% to $828 million, as a result of an increase in interest income on trading securities, interest income on margin loans to customers, and interest income on loans to customers. Read more...