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Freedom Holding Corp. (symbol: FRHC) is a prominent player in the securities industry, offering a comprehensive range of financial services through its subsidiaries. These services include retail securities brokerage, research, investment counseling, securities trading, market making, corporate investment banking, and underwriting services. The company operates across several key international markets including Central Asia, Europe, the United States, and the Middle East/Caucasus, with Europe contributing the majority of its revenue.
Freedom Holding Corp. provides investment brokerage services for a diverse array of financial instruments such as exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, government bonds, and mutual funds. Additionally, the company offers margin lending services, which are collateralized by securities and cash in the customer's account.
To support its clients' investment decisions, Freedom Holding Corp. offers various investment education and training courses alongside comprehensive investment research services. The company also delivers capital raising solutions for corporate clients through initial public offerings (IPOs) and follow-on offerings. Its debt capital markets solutions are tailored to structure and distribute private and public debt for a variety of purposes, including buyouts, acquisitions, growth capital financings, and recapitalizations.
Freedom Holding Corp. is an active participant on several major exchanges, including the Kazakhstan Stock Exchange (KASE), Moscow Exchange (MOEX), Saint-Petersburg Exchange (SPB), the Ukrainian Exchange, the Uzbek Republican Currency Exchange (UZCE), and the Republican Stock Exchange of Tashkent (UZSE). This extensive network reflects the company’s strategic focus on providing robust financial services and expanding its market presence across Eurasia.
Freedom Holding Corp. (NASDAQ: FRHC) reported its Q1 FY2025 results, showing significant growth and expansion. The company achieved $451 million in revenue, a 43% increase from the previous year. However, net income decreased by 50% to $34 million, primarily due to unrealized losses on Kazakhstan sovereign bonds and increased expenses related to business growth.
Key highlights include:
- Diluted EPS of $0.57
- Total assets of $8.5 billion
- Launch of Freedom Bank KZ mobile SuperApp
- Expansion to 6,800 employees and 132 offices
- Increase in brokerage accounts to 532,000
The company's growth strategy focuses on expanding its fintech ecosystem, including retail banking, insurance, and ancillary services. Despite challenges, FRHC remains optimistic about future prospects and continues to invest in organic growth and potential acquisitions.
S&P Global Ratings has revised its outlook for Freedom Holding Corp. (NASDAQ: FRHC) and its subsidiaries to positive. Ratings for Freedom Finance JSC, Freedom Finance Europe , Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC were affirmed at 'B/B' and their outlooks shifted from negative to positive. Meanwhile, Freedom Holding Corp.'s rating remains at 'B-' but its outlook has improved from negative to stable. S&P cited lower economic risk and better banking sector supervision in Kazakhstan, expecting the country's GDP to grow by an average of 3.6% annually over the next four years. S&P also highlighted the company's stable core earnings and increased revenue from banking activities. Additionally, Freedom Holding Corp. has strengthened its risk management by hiring key officers and expanding its board.
Freedom Holding Corp. (NASDAQ: FRHC) reported record financial results for fiscal year 2024, highlighting a 105% increase in revenues to $1.6 billion. Core brokerage and banking operations generated 75% of total revenue, with fee and commission income rising by 35% to $440 million. Interest income surged by 181% to $828 million. Net income grew to $375 million, with EPS up to $6.37 from $3.50 in 2023.
Total assets increased to $8.3 billion, driven by a 53% rise in the proprietary trading portfolio and a 68% increase in customer loans. The company completed five acquisitions and entered the telecom market with a $200 million bond offering. Expansion included new offices in Europe, while total expenses rose due to higher interest, payroll, and administrative costs. The insurance segment saw a 100% revenue increase, and total bank accounts grew significantly. The company plans further digital integration, AI-driven solutions, and continued global expansion in FY 2025.
Freedom Holding Corp. (NASDAQ: FRHC), a global financial services company, has expanded its board to seven members with the addition of Dr. Kairat Kelimbetov, Andrew Gamble, and Philippe Vogeleer. This move aims to enhance corporate governance, risk management, and compliance as the company grows internationally. Additionally, the company has created a Chief Legal Officer (CLO) position, appointing former board member Jason Kerr to the role. The new appointments are effective May 28, 2024, and are expected to strengthen the company's strategic positioning and operational capabilities.
Freedom Holding Corp. (NASDAQ: FRHC) will sponsor and compete in the 2024 FIDE World Corporate Chess Championship, a landmark event to be held from June 15-17, 2024, in New York City's historic Cunard building. The championship will feature top business leaders and chess stars, marking FIDE's 100th anniversary. CEO Timur Turlov emphasized the strategic parallels between chess and business. Sponsorships remain available, and ticket sales start on May 20, 2024. Freedom Holding Corp. operates in 19 countries, offering diversified financial services and employing over 6,000 people.
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