v3.26.1
RELATED PARTY TRANSACTIONS
 3 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Related party transactions as of June 30, 2026 and March 31, 2026, consisted of the following:
June 30, 2026March 31, 2026
Related party balancesTotal category as per financial statements captionsRelated party balancesTotal category as per financial statements captions
ASSETS
Cash and cash equivalents$1,139 $1,351,050 $1,771 $966,115 
Companies controlled by management1,139 1,771 
Restricted cash$6,989 $1,473,196 $6,586 $1,246,312 
Companies controlled by management6,989 6,586 
Investment securities$7,556 $4,182,982 $8,117 $3,342,561 
Companies controlled by management7,556 8,117 
Margin lending, brokerage and other receivables, net$34,560 $3,996,783 $22,267 $4,690,782 
Management25,913 19,946 
Companies controlled by management8,212 2,315 
Other435 6 
Loans issued$25,157 $2,036,515 $21,321 $2,077,606 
Management403 475 
Companies controlled by management24,754 20,846 
Other assets, net$40,641 $376,937 $40,119 $264,621 
Management17,753 17,885 
Companies controlled by management22,888 22,234 
LIABILITIES
Customer liabilities$113,506 $7,048,800 $94,808 $7,103,984 
Management43,113 33,854 
Companies controlled by management67,942 58,592 
Other2,451 2,362 
Margin lending and trade payables$652 $594,005 $836 $689,641 
Management— 441 
Companies controlled by management652 395 
Insurance contract liabilities$5,497 $768,095 $6,437 $653,907 
Companies controlled by management5,497 6,437 
Other liabilities$4,271 $388,330 $2,984 $285,247 
Management236 250 
Companies controlled by management4,034 2,733 
Other1 1 
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
Related party amountsTotal category as per financial statements captionsRelated party amountsTotal category as per financial statements captions
Revenue:
Fee and commission income$1,023 $156,734 $684 $107,642 
Management353 147 
Companies controlled by management667 533 
Other3 4 
Interest income$4,511 $295,106 $583 $198,571 
Management3,165 266 
Companies controlled by management1,344 317 
Other2 — 
Net insurance revenue$694 $124,175 $5,927 $143,815 
Management29 11 
Companies controlled by management664 5,914 
Other1 2 
Other income$103 $11,645 $355 $8,561 
Management1 — 
Companies controlled by management102 355 
Expense:
Fee and commission expense$1,114 $31,289 $1,411 $84,354 
Management— 1 
Companies controlled by management1,114 1,410 
Interest expense$1,217 $177,563 $436 $113,410 
Management160 110 
Companies controlled by management762 313 
Other295 13 
Advertising and sponsorship expense$11,831 $35,785 $5,513 $24,463 
Companies controlled by management11,831 5,513 
As of June 30, 2026 and March 31, 2026, the Group had loans issued which included uncollateralized bank customer loans purchased from FFIN Credit, a company outside of the Group which is controlled by Timur Turlov. Beginning in September 2025, the Bank transitioned retail loan origination to its own platform and discontinued the purchase of unsecured consumer loans from FFIN Credit. For the details of financial impact of the transaction, see in Note 8 "Loans issued".
As of June 30, 2026, 26% of the Group's total related party other assets consisted of a prepayment to Freedom Data Centers LLP (formerly, Freedom Telecom LLP) for the potential acquisition of A-Telecom LLP compared to 26% as of March 31, 2026. The potential acquisition of A-Telecom LLP is part of the Group’s strategy to expand its presence in the
telecommunications market in Kazakhstan and to develop a digital fintech ecosystem. Freedom Data Centers LLP is considered a related party based on the scale of its economic transactions with the Group.
As of June 30, 2026, 14% of the Group's total related party customer liabilities were bank deposits from Turlov Family Office Securities (PTY) LTD held with Freedom Bank KZ, compared to 13% as of March 31, 2026. Turlov Family Office Securities (PTY) LTD is a private securities brokerage company that is wholly owned by Mr. Timur Turlov. Additionally, 0.5% of the Group's total related party customer liabilities as of June 30, 2026 were from a private company ITS Central Securities Depository Limited, compared to 1% as of March 31, 2026. Private company ITS Central Securities Depository Limited is a subsidiary of International Trading System Limited, an affiliate of the Group.
As of both June 30, 2026 and March 31, 2026, 99.2% of the Group's total related party insurance contract liabilities were liabilities from FFIN Credit. The Group provides voluntary credit risk insurance covering losses arising from borrower defaults on microloan agreements originated by FFIN Credit. In addition, during the three months ended June 30, 2026, the Group did not recognize any net insurance revenue, from such insurance services, compared to $5,462 recognized during the three months ended June 30, 2025.
The Group continues to support the development of chess and football in Kazakhstan. During the three months ended June 30, 2026, the Group incurred advertising and sponsorship expenses related to Kazakhstan Chess Federation in the amount of $4,123, Freedom Youth Football League of Kazakhstan in the amount of $4,637, and Football Club Shakhter in the amount of $2,544, compared to $1,608, $2,526 and $0, respectively, during the three months ended June 30, 2025. Kazakhstan Chess Federation is a Kazakhstan-based company in which Timur Turlov holds a management position. Freedom Youth Football League of Kazakhstan and Football Club Shakhter are Kazakhstan-based companies wholly owned by Turlov Private Holding, in which Timur Turlov holds 99.9% of the shares. The sponsorship contributions to the Kazakhstan Chess Federation, Freedom Youth Football League of Kazakhstan and Football Club Shakhter during the three months ended June 30, 2026 were made to support the preparation and holding of championships, tournaments, training camps and other events.