The NASDAQ-listed Freedom Holding Corp. has reported a 33% y/y revenue increase in the second quarter to $580.9mn, the investment bank and broker said in a press release on November 8.

Net profits reached $114.5mn, driven by growth across its banking, brokerage, and insurance segments and the fund plans to expand in Central Asia and Europe.

The company’s banking division was key for the revenue growth, up 21% to $201.5mn, bolstered by Freedom Bank Kazakhstan’s addition of 1.2mn clients. Meanwhile, brokerage revenues rose to $174.8mn, with a client base now at 555,000 as of September 30.

Insurance was Freedom Holding’s most dynamic segment, recording a 121% revenue boost to $178.2mn, alongside a 58% client base increase to 846,000. Acknowledging the strong results, S&P Global Ratings recently upgraded Freedom Insurance’s rating to ‘BB-’ with a ‘stable’ outlook. Insurance underwriting income also surged by 177%, reaching $160.3mn.

Freedom Holding further reported half-year revenues of $1.03bn, marking a 33.4% increase from $751.8mn in the previous year. Fee and commission income contributed $236.5mn, while underwriting income more than doubled to $289.8mn. Interest income rose to $436.3mn, indicating growth in both banking and brokerage activities. Over the six months, net profit climbed 82% to $375mn.

Total assets rose to $8.82bn, up from $8.3bn in March 2024. Available-for-sale securities now stand at $284.6mn, while trading securities have reached $3.6bn. This reflects Freedom Holding’s diversification strategy, expanding across 22 countries, including Central Asian and European markets. In October, it secured a banking licence in Tajikistan, furthering its presence in Central Asia.

CEO Timur Turlov has emphasised the company’s expansion focus in emerging markets. In Kazakhstan, Freedom Holding is creating a financial and lifestyle services ecosystem, which Turlov indicates could eventually extend globally. Additionally, acquisitions such as Freedom Telecom’s recent purchase of SilkNetCom, a Kazakh IT firm, reflect this diversification effort.

An additional business segment, including online payments and e-commerce, generated $26.4mn in Q2 FY2025, a 56% y/y increase.

The company’s corporate social responsibility (CSR) initiatives remain at the forefront, with a commitment to supporting education, youth sports, and environmental projects in Central Asia and beyond. Turlov underscored the importance of strengthening these efforts to “create long-term value for shareholders.”