Freedom Holding Corp. Revenue Rises 40% to $732.5M

On August 10, Freedom Holding Corp. (NASDAQ: FRHC), an international financial services and technology group, reported a 40% increase in revenue to $732.5 million for the first quarter of fiscal 2027, as the company continued to expand beyond its core market of Kazakhstan. Freedom Holding has built an ecosystem in Kazakhstan combining banking, brokerage, insurance, payments, and lifestyle services. It is now seeking to bring that model to other markets, including Türkiye, France, Georgia, the United States, and other parts of Europe.

For the three months ended June 30, 2026, revenue rose to $732.5 million from $524 million a year earlier. Total assets reached $14.05 billion, up 7% from $13.16 billion at the end of the previous quarter. The increase was partly driven by growth in Freedom Holding’s proprietary investment portfolio and higher client cash balances in brokerage accounts.

Freedom Holding Corp. also maintained a solid liquidity position, while revenue increased across several of its main business lines.

Interest income rose by $96.5 million, or 49%, to $295.1 million. Fee and commission income increased 46% to $156.7 million, supported by continued growth in the client base. Net gains from securities trading climbed 75% to $79.8 million, mainly due to higher valuations of securities positions and gains from bond sales.

Freedom Holding also recorded an additional $9.9 million in net gains from derivative financial instruments, driven by favorable revaluations of foreign-exchange swaps.

Freedom’s client base continued to grow during the quarter. Brokerage accounts increased 2% from March 31, 2026, to 874,000. The number of banking clients rose 8% to 5.4 million. The insurance segment had about 900,000 clients, while the number of clients across other segments including lifestyle services increased 36% during the quarter to 1.5 million.

“We have made a successful start to the new fiscal year, significantly increasing revenue while consistently maintaining a high level of quarterly profitability. This allows us not only to invest actively in the development of the Freedom ecosystem, but also to roll it out in new markets. We have completed the acquisition of a bank in Türkiye, where we will begin building our ecosystem in the very near future – a model that has already demonstrated its effectiveness in Kazakhstan,” said Timur Turlov, founder and Chief Executive Officer of Freedom Holding Corp.

Credit Rating Updates

Freedom Holding’s recent growth has also coincided with credit-rating upgrades for several of its key financial companies.

In June 2026, S&P Global Ratings upgraded Freedom Finance, Freedom Finance Europe, Freedom Finance Global, and Freedom Bank Kazakhstan to BB- with a stable outlook. Freedom Holding Corp.’s own rating was affirmed at B- with a stable outlook.

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