Freedom Holding Corp, a U.S.-based financial company, has announced its financial results for Q4 2024, demonstrating significant growth in revenue and assets compared to the same period the previous year.
Financial Performance Growth
The company reported a 57% increase in total revenue, reaching $655.2 million compared to $418.6 million in the fourth quarter of 2023. Total assets increased to $9.1 billion. Substantial revenue growth was driven by an increase in net gains on trading securities and improved income from insurance underwriting.
Segment Performance
The brokerage, banking, and insurance segments showed significant growth: brokerage revenue increased by 29%, banking by 47%, and insurance more than doubled. Other business segments also demonstrated considerable revenue growth due to successful foreign exchange operations.
Financial Load and Future Strategies
Despite strong revenue growth, the company's net income declined by 19% due to increased operating costs, including fees and commissions, general and administrative expenses, payroll, and bonuses. Total expenses for the quarter reached $556.9 million. The company is focused on expanding its product portfolio, improving operational efficiency, and exploring new market opportunities.
Freedom Holding Corp continues to strengthen its position in the international arena, expanding its presence and offering innovative financial products to individual and institutional investors.
