Freedom Holding Corp. earns revenue of $795 million in 2023 fiscal year

07.08.23 12:20

/KASE, August 7, 2023/ - Freedom Holding Corp. (USA), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided the KASE with the following press release dated August 4, 2023: quote During the reporting period, the holding earned $795.7 million, which is $105.9 million (+15%) more than in fiscal 2022 revenue of $689.8 million. A number of positive factors contributed to the growth in profit. Interest income increased from $121.6 million to $294.7 million (+142%). The increase in this indicator by $173.1 million is due to the increase in the loan and trading portfolios and the expansion of the share of bonds in the latter. There is an increase in interest income on margin loans due to more active use by customers. The change in revenue was also supported by a $48.4 million increase in net income from foreign exchange operations due to the strengthening of the activity of a subsidiary of Freedom Bank holding in buying and selling foreign currency. The positive dynamics was also influenced by the increase in income from insurance services from $73 million to $115.4 million. The increase in profit by $42.4 million (+58%) was due to the expansion of the holding's activities in this direction. unquote The full version of the press release is available on - https://kase.kz/files/emitters/FRHC_KZ/frhc_kz_relizs_040823.pdf [2023-08-07]