Freedom Holding Corp. is a Nevada-based holding company for financial-services subsidiaries (securities brokerage and dealing, market making, investment research and counseling, retail and commercial banking, and insurance) that aims to democratize global capital-market access for retail customers via digital infrastructure, with primary operations in Kazakhstan and subsidiaries across Europe, Central Asia and the U.S.

# Freedom Holding Corp.

## Company structure
- Organized as a Nevada holding company for multiple subsidiaries engaged in financial services and related businesses.
- Subsidiaries operate in securities brokerage, securities dealing for customers and own account, market making, investment research, investment counseling, retail and commercial banking, and insurance products.
- Ancillary and development-stage businesses include payment and information processing, entertainment and travel ticketing, e-commerce, cloud services, and telecommunications and media in Kazakhstan.

## Mission
- Demystify and democratize access to financial markets for global customers.
- Provide retail brokerage customers with access to international capital markets via a digital infrastructure.

## Core activities and services
- Securities brokerage
- Securities dealing for customers and for the company's own account
- Market making
- Investment research
- Investment counseling
- Retail and commercial banking
- Insurance products

## Ancillary and development-stage businesses
- Payment and information processing services
- Entertainment and travel ticketing services
- E-commerce
- Cloud services
- Telecommunications and media services in Kazakhstan (development stage)

## Geography and operations
- Main market: Kazakhstan
- Operating subsidiaries located in: Kazakhstan, Cyprus, United States, United Kingdom, Armenia, United Arab Emirates, Uzbekistan, Kyrgyzstan, Tajikistan, Azerbaijan, Türkiye, Bulgaria, Germany, Greece, Lithuania, The Netherlands, Portugal, Spain, Austria, France, and Poland
- Representative office in Italy
- Russia-focused subsidiaries divested in February 2023

## U.S. operations
- Includes an SEC- and FINRA-registered broker-dealer

## Financial reporting structure
- Since calendar 2024, reported through a four-segment structure managed by the Chief Executive Officer, Chief Financial Officer, and President (CODM)
- Segments: Brokerage, Banking, Insurance, and Other
- Prior period segment information has been recast to reflect this change

## Stock and market status
- FRHC common stock is included in the Russell 3000 Index

## Workforce and customer base (as of March 31, 2026)
- Full-time employees: 11,627
- Offices: 230
  - 32 offering brokerage services
  - 63 offering insurance services
  - 9 offering banking services
  - 126 offering other financial and non-financial services
- Retail brokerage customer accounts: 858,000

FRHC is a diversified multinational holding company engaged in financial services, banking, insurance, and digital ecosystem development, primarily operating in Kazakhstan and other regions.

# Company Overview Summary

## Company Name
**Freedom Holding Corp. (FRHC)**

## Business Activities
- **Holding Company:** Organizes and oversees subsidiaries engaged in various financial services and related businesses.
- **Core Operations:**
  - **Securities Brokerage:** Retail and institutional securities trading, investment consulting, and capital markets activities.
  - **Securities Dealing:** Market making and proprietary trading activities.
  - **Investment Banking:** Underwriting, mergers and acquisitions advisory, and capital raising.
  - **Banking:** Retail and commercial banking, lending, deposit services, payment card solutions, money transfers, and digital banking products.
  - **Insurance:** Life and general insurance services.
- **Additional Businesses/Services:**
  - Payment and information processing services
  - Entertainment and travel ticketing services
  - E-commerce platform
  - Telecommunications and media businesses in Kazakhstan (developmental stage)
  
## Key Locations
- Subsidiaries in Kazakhstan, Cyprus, United States, United Kingdom, Armenia, UAE, Uzbekistan, Kyrgyzstan, Tajikistan, Azerbaijan, Turkey
- Representative offices in Austria, Belgium, Bulgaria, France, Germany, Greece, Italy, Lithuania, Netherlands, Poland, Spain
- Divested Russian subsidiaries in February 2023

## Customer & Employee Statistics (as of March 31, 2025)
- **Retail Customer Accounts:** 683,000
- **Employees:** 8,764 total
  - Full-time employees: 8,691
  - Part-time employees: 73

## Revenue & Income
- **Total Revenue (FY ending March 31, 2025):** $2.051 billion
- **Net Income (FY ending March 31, 2025):** Approximately $15.3 million
- **Segment Revenue Contribution:**
  - Banking & Financial Services: Major portion driven by activity in Kazakhstan
  - Insurance: Freedom Life and Freedom Insurance contributed to a combined net profit of approximately $15.3 million, with gross premiums increasing by 156% in FY2025.
  - Brokerage: Significant revenue derived from trading commissions and interest income, with approximately 683,000 brokerage customer accounts.
  - Other segment: Contributed about $144 million or 7% of total revenue from services like payment processing, ticketing, online retail, and media.

## Financial Highlights
- **Market Capitalization (as of most recent reporting date):** ~$5.74 billion
- **Outstanding Shares (as of June 11, 2025):** 61,205,640 shares of common stock, par value $0.001

## Strategic Focus
- Expansion into telecommunication and media sectors in Kazakhstan
- Development of integrated digital financial ecosystem via the **Freedom SuperApp**
- Focus on cross-border regional expansion
- Leverages big data analytics, AI, and proprietary cloud-based platforms
- Operates in highly regulated environments across multiple jurisdictions with numerous licenses in securities, banking, insurance, and payment services

**In summary:**  
FRHC is a multi-national holding company with a diversified portfolio of subsidiaries providing securities trading, banking, insurance, and digital financial services primarily across Kazakhstan and internationally, with a total of 683,000 retail customers and nearly 9,000 employees, generating over $2 billion annually in revenue.

Freedom Holding Corp. is a diversified financial services holding company based in Nevada, operating in various financial segments including brokerage, banking, and insurance.

# Freedom Holding Corp.

Freedom Holding Corp. (FRHC) is a diversified financial services holding company incorporated in Nevada with its principal executive office in Almaty, Kazakhstan. The company operates through consolidated subsidiaries across brokerage, banking, insurance and other financial and non-financial services.

## Business segments

1. **Brokerage services**
   - Provides access to international capital markets for retail and institutional clients.
   - Operates in Kazakhstan, Europe and other Central Asian jurisdictions.
   - Approximately 530,000 retail brokerage customer accounts as of March 31, 2024.
   - Fee and commission income of $440.3 million in fiscal 2024, a 35% increase year over year.

2. **Banking services**
   - Offers retail and commercial banking products, including loans, deposits and payment card services.
   - Operates through Freedom Bank KZ, which had over 903,500 clients by the close of fiscal 2024.
   - Interest income of $176.5 million in fiscal 2024, a 306% increase year over year.

3. **Insurance services**
   - Provides life and general insurance products acquired from the majority shareholder.
   - Insurance underwriting income of $264.2 million as of March 31, 2024, a 129% increase year over year.

4. **Other services**
   - Includes payment processing, online ticket sales, and planned telecommunications and media ventures.
   - Generated $62.5 million from various services in fiscal 2024.

## Company metrics

- Employees: approximately 6,197 as of March 31, 2024.  
- Offices: 161 worldwide, including:
  - 46 brokerage offices
  - 52 insurance offices
  - 20 banking offices
  - 43 offices for other financial and non-financial services

## Financial performance

- Total revenue: $1.635 billion for fiscal 2024, up 105% from $795.7 million in fiscal 2023, driven by growth in interest income and brokerage services.  
- Net income: $375.0 million for fiscal 2024, compared with $205.6 million in fiscal 2023.  
- Total assets: $8.3 billion as of March 31, 2024, up from $5.1 billion the prior year.

## Strategic focus

Freedom Holding Corp. is expanding its presence through acquisitions and building a digital fintech ecosystem that integrates its core services into a user-friendly platform. The company is diversifying into new sectors, including telecommunications and media, to support its goal of creating a comprehensive digital financial ecosystem.

## Recent developments

- Internet-Tourism LLP (April 2023) — online aggregator for air and railway tickets  
- Aviata LLP (April 2023) — online ticketing service  
- Arbuz Group LLP (May 2023) — e-commerce business  
- ReKassa (July 2023) — digital service for cash transaction data management

This range of operations enables Freedom Holding Corp. to offer a broad spectrum of financial services to a large and diverse customer base.

Freedom Holding Corp.

10-K / June 1, 2026

10-K / June 13, 2025

10-K / June 14, 2024

10-K / June 1, 2026

Freedom Holding Corp.

Company structure

Mission

Core activities and services

Ancillary and development-stage businesses

Geography and operations

U.S. operations

Financial reporting structure

Stock and market status

Workforce and customer base (as of March 31, 2026)