Freedom Holding Corp (FRHC)

[The_Free_Nebula]

yes it does...

[HMB2010]

Looks like yet another banner day for FRHC!

[shanak10]

10Q https://www.sec.gov/Archives/edgar/data/924805/000165495421011744/0001654954-21-011744-index.htm

[HMB2010]

Very nice!

[The_Free_Nebula]

It's been a while since FRHC put back to back 52 week highs together... Nice..Lots of room to

[The_Free_Nebula]

new 52 week high today...

[HMB2010]

Wow! Congrats Quin!!

[Quintessence]

Yup. I'm holding all my shares!

[The_Free_Nebula]

still growing and improving

[HMB2010]

https://www.businesswire.com/news/home/20211011005081/en/Freedom-Finance-Europe-receives-direct-membership-in-Euroclear

[shanak10]

8K https://www.sec.gov/Archives/edgar/data/924805/000165495421010091/0001654954-21-010091-index.htm

[HMB2010]

https://www.investors.com/research/growth-stocks-to-watch-emerging-markets-broker-freedom-holdings-has-unique-risks-powerful-growth-story/

[Quintessence]

For three months Freedom Holding Corp. earned $ 52 million in net profit, reports LS.

The company has released financial results for the first quarter of the fiscal year 2022 ended June 30, 2021.

"For three months, the holding's revenue amounted to $ 124 million and $ 56 million, respectively. The increase by $ 68 million, or 120%, was mainly due to an increase in commission income for the quarter by 125%, or $ 54 million, to $ 97 million. growth in interest income by 325%, or $ 14 million, to $ 18 million. In addition, for the three months ended June 30, 2021 and 2020, net income reached $ 52 million and $ 24 million, respectively, and earnings per share, calculated on the basis of of the weighted average number of shares of 59 and 58 million shares - $ 0.87 and $ 0.42 ", - noted in Freedom Holding Corp.

However, other comprehensive income was $ 55 million and $ 33 million, respectively.

The holding's expenses increased by $ 39 million, or 142%, for the following reasons:

- an increase in commission expenses by $ 12 million due to an increase in the number of clients and the volume of transactions they make;

- an increase in interest expenses by $ 11 million is mainly due to an increase in interest expenses on client balances in bank accounts, an increase in expenses related to short-term financing attracted through repurchase agreements on securities;

- an increase in operating expenses by $ 16 million mainly due to an increase in salary costs as a result of the expansion of the holding's activities through acquisitions and hiring employees.

"The new fiscal year for the holding began with positive dynamics. The number of open accounts continues to grow in all countries of presence. In three months we opened another 40 thousand new accounts. Our main financial indicators also showed growth. We see that the holding's revenue and net profit have more than doubled compared to the same quarter last year. In addition, S&P has raised the long-term credit ratings of IC "Freedom Finance" and JSC "Freedom Finance" from "B-" to "B", and also assigned Freedom Finance Europe Ltd. and Freedom Finance Global PLC ratings of the issuer of long-term and short-term liabilities of the B / B level. Thus, four brokerage companies of the group at once are rated by one of the most reputable rating agencies in the world, which speaks of international recognition of the holding's development, "commented CEO of Freedom Holding Corp. Timur Turlov.

The company added that, as of June 30, 2021, over 330 thousand client accounts have been opened. This is 40 thousand, or 14%, more compared to the number of client accounts as of March 31, 2021.


Source: https://lsm.kz/freedom-vyruchka

[shanak10]

https://www.sec.gov/Archives/edgar/data/924805/000165495421008600/0001654954-21-008600-index.htm

[HMB2010]

Agreed. Yeah i saw this and first about 6 weeks ago. Market doesnt care either, Belize office not a secret.

[wellsg27]

https://ffj-online.org/2021/08/02/freedom-holding-the-red-flag-factory-in-belize/

This is the second negative article from this guy and it’s all speculation. Garbage article. He should be sued.

[shanak10]

Schedule 14A
https://www.sec.gov/Archives/edgar/data/924805/000165495421008338/frhc_def14a.htm

[shanak10]

https://www.sec.gov/Archives/edgar/data/924805/000165495421008064/FRHC_144.htm

[The_Free_Nebula]

FRHC staying hot...

[HMB2010]

Saw that today. Thanks for posting, I was unable. Could go over $100 with good next couple quarters if not before. Wow, TT has done it again, cutting edge.

[Quintessence]

Freedom Finance Bank Offers to Get a Mortgage Loan in Just a Few Minutes...

https://kursiv.kz/en/news/banki/2021-07/freedom-finance-bank-offers-get-mortgage-loan-just-few-minutes

Freedom Finance Bank has announced its new service of digital mortgage, which can be acquired in just a few minutes via mobile phone number and Individual Identification Number (INN). It sounds unbelievable but you can get keys from your new apartment on the same day because all stages of that process are digital. The offer conditions are the following: loan not less than $ 7000, initial installment at least 20%, duration of a loan up to 15 years with 10.5% minimal interest rate (annual effective rate of return 11%). According to Timur Turlov, the head of Freedom Holding Corp., the new project will make it easier for both sellers and buyers of properties.

[wellsg27]

Thank you HMB and Neb

[HMB2010]

I too remember him. Sincerest condolences to you and loved ones. Glad you have FRHC as a great story to add to your memories of your father.

[HMB2010]

https://www.gurufocus.com/news/1462861/freedom-holding-corp-subsidiaries-sp-global-rating-raised

[The_Free_Nebula]

I remember O23- RIP and sorry for your loss. It is great you listen..

[wellsg27]

Thank Shanak. He really loved this company. Said it was a once in a lifetime opportunity. He was right.

https://www.accesswire.com/viewarticle.aspx?id=653141

[shanak10]

I am glad you listened to your dad. I am sorry to hear he passed away. I do remember him. GL

[wellsg27]

What an amazing Stock. My dad begged me to buy this 3 years ago and I fought him all the way. Never believed that this company would ever succeed. I am glad that I listened to him. Sadly he passed away before seeing this magnificent run. I think you all remember him. He was Orangeman23. RIP dad, I miss you.

[shanak10]

8K https://www.sec.gov/ix?doc=/Archives/edgar/data/924805/000165495421007085/frhc_8k.htm

[The_Free_Nebula]

I wonder if TT has any plans to expand into Canada...

[HMB2010]

THATs a 10-k !!!

[shanak10]

Form 10K https://www.otcmarkets.com/filing/html?id=15030996&guid=Q3rUkHoLhg_3Lth

[The_Free_Nebula]

Nice come back week.

[Quintessence]

Timur is live now on Instagram. Unfortunately, my Russian is not all good :)

[HMB2010]

Nice start PM.

[The_Free_Nebula]

Interesting

[wellsg27]

I found it. Never heard of this company but it looks like they are legit.

https://www.sidoti.com/files/?file=report/out/frhc%20rpt%2005%2027%2021.pdf

[wellsg27]

This is probably why it went up yesterday:

https://www.accesswire.com/649717/Freedom-Holding-Corp-Announces-Research-Coverage-by-Sidoti-Company

If someone could figure out a way to get the report without having to sign up on the Sidoti website, that would be great.

[The_Free_Nebula]

its been a while since FRHC had a spark like it did today...Hope it holds and advances...

[Quintessence]

Freedom Finance is expanding its presence in St. Petersburg

https://www.finversia.ru/news/press-release/fridom-finans-rasshiryaet-prisutstvie-v-sankt-peterburge-95783

On April 19, 2021, the second office of Freedom Finance investment banking services was opened in St. Petersburg. The branch is located at: Moskovsky prospect, 179, lit. BUT.

The opening ceremony took place on May 27, 2021. It was attended by the CEO of Freedom Holding Corp. Timur Turlov, chairman of the board of Freedom Finance Bank Gennady Salych, and chief accountant - financial director of the bank Tatyana Deryugina.

The new office offers private clients and businesses a full range of banking services and investment instruments. These include the opening of current accounts, deposit operations, money transfers, foreign exchange operations at the Moscow Exchange rate and the issuance of multicurrency cards with the “CASH BACK shares” program.

The first office of the investment company in St. Petersburg was opened six years ago at the address at Baskov Pereulok, 2, bldg. 1. Since 2019, a bank branch has also started operating there.

Residents of St. Petersburg can open a brokerage or individual investment account and receive recommendations on the purchase of shares and bonds of foreign and Russian companies. In the product line of IC "Freedom Finance" there are also highly liquid exchange-traded funds ZPIF "Primary Placement Fund", which allows you to participate in IPOs on American stock exchanges, and BIF "Technology Leaders", which consists of ten leading world companies in the high-tech sector.

“The qualitative growth that we saw in St. Petersburg required us to expand. Our key task in all regions of our presence is to form our ecosystem, overgrow banking divisions and build an effective settlement investment bank that will provide high-quality payment services, act as an organizer of bonded loans and create new interesting products for our clients, ”said Timur Turlov, founder IC "Freedom Finance", CEO Freedom Holding Corp.

“We see that interest in our bank in St. Petersburg is growing rapidly - this is confirmed by the success of our first office, which we also solemnly opened two years ago. We try to ensure that customers can receive our services in one window, so that communication with our managers is as productive as possible, and the visit to the branch is comfortable and does not take much time. I am very glad that the people of St. Petersburg show their trust in us. We, in turn, do our best to make our services simple and high-tech, ”added Gennady Salych, Chairman of the Board of Freedom Finance Bank.

[The_Free_Nebula]

their next filing is a 10K in July...

[wellsg27]

Does anyone know when the next quarterly report is due out? Seems like it is late.

[The_Free_Nebula]

amazing how this is churning daily. Waiting for the next move upward out of oversold territory...

[shanak10]

8K/A https://www.otcmarkets.com/filing/html?id=14901864&guid=XH_nUKDmXUOFj3h

[Quintessence]

Timur is live on Instagram now, giving a presentation. I wish I spoke Russian! :)

[HMB2010]

https://www.forbes.com/sites/lisettevoytko/2021/04/13/meet-the-new-billionaire-behind-kazakhstans-surprisingly-hot-brokerage/

"Miracle" 93 day lock up with requirement to purchase frhc.
Yes, miracle.

[The_Free_Nebula]

nice

[HMB2010]

https://my.asiatatler.com/society/youngest-billionaires-asia-2021

[Quintessence]

Freedom Finance unveils development plans for the bank following the completion of the acquisition of Kassa Nova Bank

https://vlast.kz/novosti/44500-freedom-finance-zaversil-sdelku-po-priobreteniu-banka-kassa-nova.html

The next step of the investment company will be the launch of microfinance products based on the bank

Freedom Finance has completed the acquisition of Kassa Nova Bank from Forte Bank, which began in August 2020. The next step of the investment company will be the development of a microfinance system based on the bank, into which all subsequent loan products will be integrated, its CEO Timur Turlov said during a press conference on Friday.

Freedom Finance signed an agreement on the purchase of Kassa Nova Bank from Forte Bank in early August 2020. With the completion of the purchase process, the bank entered the structure of Freedom Holding Corp. as a subsidiary of Freedom Finance JSC. At the end of 2020, the company planned to organize a bank with a modern investment and credit service.

After completing the purchase of the bank, Freedom Finance received a license to carry out microfinance activities for its subsidiary, Microfinance Organization Freedom Finance Credit LLP. The investment company began to develop this direction even before the start of negotiations. The testing of the service took more than a year, and at first it financed the sale of insurance, as well as tickets through the services of Chocotravel and Aviata. The last stage of testing concerned purchases of household appliances through the stores of the Tekhnodom chain.

“The retail market is under-covered in Kazakhstan, and a lot of things in the banking system of Kazakhstan can be done better. We will not try to copy the Kaspi marketplace. We see an enormous need to help our partners with sales. We see our strength in the fact that we build the most transparent relations with our partners, and we are engaged in mutually beneficial [business]. We do not take traffic from them and look extremely attractive to them, feeling the high demand for our service. Now the main product for us is interest-free installments, and we will focus on it, ”Turlov emphasized.

An important component of the new system, according to the CEO, is a different principle of building a scoring model. When creating it, the company took into account the experience of existing microfinance organizations that issue loans at high rates in the format of payday loans. At the same time, the experience of banks that lose most of their clients due to complex business processes was taken into account. They, according to Turlov, are designed in such a way that they prevent the issuance of financing for 90% of clients, not so much because of the insolvency of clients, but because of procedural and technical reasons. In addition, the scoring model analyzes a large corpus of data extracted from a large number of state information databases: from GCPP to services for analysis of counterparties. The new approach allowed the company to create a system that makes a decision on the provision of funding within 4 seconds.

“In the near future, a system of notifying potential borrowers will be introduced, indicating the reasons for the refusal of lending and recommendations for obtaining approval. And also the ability to know your credit limit in advance. Thus, we will be able to build an individual approach to each client, ”summed up Turlov.

[Quintessence]

Freedom Finance Credit received a license to carry out microfinance activities, reports LS.

https://lsm.kz/turlov-aprel

This was announced by Timur Turlov, General Director of the company, during the conference "New Retail Business Direction of Freedom Finance". He stressed that the MFI has already received the appropriate license.

"Freedom Finance Credit is the only microfinance organization in the country that provides interest-free installments. For our ecosystem, this is a kind of testing ground for building all digital processes. The decision to issue a loan is as transparent as possible and takes four seconds. This is achieved thanks to streamlined business processes and a large-scale scoring verification based on the use of a wide list of databases. In the near future, a system of notifying potential borrowers will be introduced, indicating the reason for refusing loans and recommendations for obtaining approval. As well as the ability to know your credit limit in advance. Thus, we will be able to build an individual approach to each client. ", - he noted.

To date, MFO Freedom Finance Credit has issued over 37 thousand loans. The entire process from submitting an application to signing documents is carried out online. Services are provided to individual entrepreneurs, individuals and legal entities.

Features of MFO Freedom Finance Credit:

digital business processes that allow you to make decisions in four seconds;
online 24/7 application and solution processes;
systemic risk management based on hundreds of factors and predictors;
filling out a questionnaire on the basis of open databases (according to the two specified information: IIN and phone number);
seamless process on the side of each partner;
individual approach to clients;
continuous cycle of enrichment with new parameters, their verification and validation;
fraud monitoring, including biometrics.

"At the moment, financing by installments is carried out under such partner products as OPGPO BTC from Freedom Finance Insurance, installment plan for air tickets on the Aviata and Chocotravel websites, installment plan for the purchase of goods in the Technodom chain of stores," Turlov explained.

Previously, LS wrote that, according to Turlov, Kazakhstani companies should be given more freedom in managing pension assets.


Source: https://lsm.kz/turlov-aprel