on Freedom Holding Corp. (NASDAQ:FRHC)
Freedom Holding Corp. Reports Fiscal Year 2024 Financial Results
Freedom Holding Corp. (NASDAQ:FRHC), operating in 20 countries, announced strong financial results for fiscal year 2024. Revenues rose to $1.6 billion, up 105% from the previous year, driven by increased interest income, fee and commission income, and insurance underwriting.
Fee and commission income reached $440 million, a 35% increase, supported by the growth in retail brokerage customers and trading volumes. Interest income grew by 181% to $828 million. Net income for the year was $375 million, up from $206 million in 2023. Earnings per share improved to $6.37 from $3.50.
Total assets increased to $8.3 billion, with significant growth in the proprietary trading portfolio and customer loans. The Company expanded through acquisitions and opened new offices in Europe. The Shapagat Non-Profit Corporate Fund has also supported various community projects.
Freedom Holding Corp. appointed a new Chief Compliance Officer and Chief Risk Officer in 2023 to strengthen governance. The company plans further digital integration and market expansion in Europe and Central Asia in fiscal 2025.
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