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  • Freedom Holding Corp: Increase across the Board in Q1 FY2021

Freedom Holding Corp: Increase across the Board in Q1 FY2021

Freedom Holding Corp., which is a founder of Freedom Finance Europe, filed a report to the US Securities and Exchange Commission (SEC) on the results of Q1 FY2021, which ended on June 30, 2020. Compared to the same period last year, the holding showed incredible results, with the figures rising across the board.

As of March 30, 2020, the holding had 152,000 client accounts, with 12,000 new accounts opened in the reported quarter alone.

Key Figures over the Reported Period:

  1. Earnings reached 56.40 million, having increased by 93%. This is $27.20 million more than in the same period last year. The growth is based on a 92% increase in fee and commission income.
  2. Expenses increased by $7.90 million, or 41%, which is due to the larger number of clients, larger transaction volume, and the expansion of the company.
  3. The net profit reached $24.30 million, increasing by $16 million.
  4. The EPS amounted to $0.42, which is as much as +200% compared to last year.
  5. Other comprehensive income reached $33 million, which is $24.10 million more compared to $8.90 million in Q1 last year.
  6. Assets and liabilities have increased by $716 million and $683 million, respectively.

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