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SEGMENT REPORTING
 3 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The following tables summarize the Company's Statement of Operations by its reportable segments for the periods presented. There are no revenues from transactions between the segments and intercompany balances have been eliminated in disclosures.
Three months ended June 30, 2025
STATEMENT OF OPERATIONS
BrokerageBankingInsuranceOtherTotal
Fee and commission income$105,825 $(8,825)$— $10,642 $107,642 
Net gain on trading securities7,063 29,665 4,096 4,778 45,602 
Interest income64,940 115,929 16,500 1,202 198,571 
Insurance premiums earned, net of reinsurance
— — 153,257 — 153,257 
Net (loss)/gain on foreign exchange operations(2,445)(13,850)(142)3,544 (12,893)
Net gain/(loss) on derivative
50 16,900 — (1,491)15,459 
Sales of goods and services— — — 17,224 17,224 
Other income827 6,423 308 1,003 8,561 
TOTAL REVENUE, NET176,260 146,242 174,019 36,902 533,423 
Fee and commission expense10,787 5,603 66,034 2,447 84,871 
Interest expense16,082 79,237 2,629 15,462 113,410 
Insurance claims incurred, net of reinsurance— — 80,285 — 80,285 
Payroll and bonuses34,193 19,241 8,131 31,536 93,101 
Professional services1,917 195 707 10,205 13,024 
Stock compensation expense6,213 3,070 10,451 3,320 23,054 
Advertising and sponsorship expense8,262 923 249 15,029 24,463 
General and administrative expense10,788 12,316 2,074 16,797 41,975 
(Recovery of)/allowance for expected credit losses
(2,323)5,624 1,185 336 4,822 
Cost of sales— — — 13,903 13,903 
TOTAL EXPENSE85,919 126,209 171,745 109,035 492,908 
INCOME/(LOSS) BEFORE INCOME TAX
$90,341 $20,033 $2,274 $(72,133)$40,515 
Income tax expense(15,993)(2,662)(4,118)12,654 (10,119)
NET INCOME/(LOSS)
$74,348 $17,371 $(1,844)$(59,479)$30,396 
Three months ended June 30, 2024
STATEMENTS OF OPERATIONS
BrokerageBankingInsuranceOtherTotal
Fee and commission income$97,943 $2,796 $115 $14,635 $115,489 
Net gain/(loss) on trading securities874 (50,007)139 (3,108)(52,102)
Interest income62,789 146,063 15,699 1,453 226,004 
Insurance premiums earned, net of reinsurance
— — 129,408 — 129,408 
Net gain/(loss) on foreign exchange operations9,957 (19,695)1,120 16,707 8,089 
Net gain on derivative876 11,618 — — 12,494 
Sales of goods and services— — — 5,220 5,220 
Other income
2,477 427 782 6,711 10,397 
TOTAL REVENUE, NET174,916 91,202 147,263 41,618 454,999 
Fee and commission expense5,677 2,526 64,887 7,057 80,147 
Interest expense34,621 99,887 3,883 7,327 145,718 
Insurance claims incurred, net of reinsurance— — 47,309 — 47,309 
Payroll and bonuses25,251 6,117 6,861 19,295 57,524 
Professional services2,389 96 277 4,506 7,268 
Stock compensation expense5,315 1,956 875 2,469 10,615 
Advertising and sponsorship expense11,944 1,064 350 8,538 21,896 
General and administrative expense10,213 12,385 5,218 12,594 40,410 
Allowance for/(recovery of) expected credit losses
(329)(1,121)325 (645)(1,770)
Cost of sales— — — 4,284 4,284 
TOTAL EXPENSE95,081 122,910 129,985 65,425 413,401 
INCOME/(LOSS) BEFORE INCOME TAX
$79,835 $(31,708)$17,278 $(23,807)$41,598 
Income tax (expense)/benefit(10,204)3,225 (3,475)3,115 (7,339)
NET INCOME/(LOSS)
$69,631 $(28,483)$13,803 $(20,692)$34,259 
The following tables summarize the Company's total assets and total liabilities by its business segments as of the dates presented. Intercompany balances have been eliminated for separate disclosure.
June 30, 2025
BrokerageBankingInsuranceOtherTotal
Total assets$4,227,175 $4,236,036 $750,319 $476,223 $9,689,753 
Total liabilities3,282,684 3,745,873 599,347 832,790 8,460,694 
Net assets$944,491 $490,163 $150,972 $(356,567)$1,229,059 
March 31, 2025
BrokerageBankingInsuranceOtherTotal
Total assets$4,344,555 $4,441,315 $712,352 $415,795 $9,914,017 
Total liabilities3,588,781 3,936,900 571,335 602,643 8,699,659 
Net assets$755,774 $504,415 $141,017 $(186,848)$1,214,358 

The following table presents revenues for the three months ended June 30, 2025 and 2024, and long-lived assets as of June 30, 2025 and March 31, 2025, classified by the major geographic areas based on subsidiaries' location.
Three months ended June 30, 2025
RevenueBrokerageBankingInsuranceOtherTotal
Kazakhstan$113,435 $146,158 $174,019 $27,954 $461,566 
Armenia43,661 — — — 43,661 
Cyprus17,265 — — 3,191 20,456 
US909 — — 4,872 5,781 
Other990 84 — 885 1,959 
TOTAL REVENUE, NET$176,260 $146,242 $174,019 $36,902 $533,423 
Three months ended June 30, 2024
RevenueBrokerageBankingInsuranceOtherTotal
Kazakhstan$129,211 $91,202 $147,263 $20,787 $388,463 
Armenia27,896 — — — 27,896 
US825 — — 21,992 22,817 
Cyprus16,698 — — (1,050)15,648 
Other286 — — (111)175 
TOTAL REVENUE, NET$174,916 $91,202 $147,263 $41,618 $454,999 


June 30, 2025
Long-lived assetsBrokerageBankingInsuranceOtherTotal
Fixed assets, net$20,763 $53,603 $6,674 $131,623 $212,663 
Right-of-use assets19,458 9,114 2,559 8,500 39,631 
TOTAL LONG-LIVED ASSETS$40,221 $62,717 $9,233 $140,123 $252,294 
Kazakhstan14,123 62,113 9,233 113,369 198,838 
Cyprus14,753 — — 23,488 38,241 
USA4,076 — — 2,391 6,467 
Armenia6,227 — — — 6,227 
Other1,042 604 — 875 2,521 
TOTAL LONG-LIVED ASSETS$40,221 $62,717 $9,233 $140,123 $252,294 
March 31, 2025
Long-lived assetsBrokerageBankingInsuranceOtherTotal
Fixed assets, net$20,713 $53,716 $2,461 $114,213 $191,103 
Right-of-use assets21,101 7,684 2,532 8,511 39,828 
TOTAL LONG-LIVED ASSETS$41,814 $61,400 $4,993 $122,724 $230,931 
Kazakhstan15,241 60,863 4,993 97,608 178,705 
Cyprus15,178 — — 21,791 36,969 
USA4,220 — — 2,389 6,609 
Armenia6,082 — — — 6,082 
Other1,093 537 — 936 2,566 
TOTAL LONG-LIVED ASSETS$41,814 $61,400 $4,993 $122,724 $230,931 

Brokerage
Companies in the Brokerage segment offer securities brokerage, securities dealing for customers and for our own account, market making activities, investment research, investment counseling, underwriting and market-making services to a global customer base of corporations, investors, financial institutions, merchants, government and municipal entities. Companies in the Brokerage segment also conduct proprietary securities trading.
The Group's services in this segment include providing customers with access to the world's largest stock exchanges and a gateway to global investment opportunities. Additionally, the Group's offerings in this segment include professional securities analytics, empowering customers with valuable insights and market intelligence to make informed investment decisions. To ensure a seamless experience, the Group provides user-friendly trading applications that offer convenience and flexibility.
Banking
Companies in the Banking segment generate banking service fee and interest income by providing services that include lending, deposit services, payment card services, money transfers, correspondent accounts, supporting both individual and corporate customers with innovative digital financial solutions. To ensure a seamless experience, the Banking segment it provides user-friendly trading applications that offer convenience and flexibility. Companies in the Banking segment also conduct proprietary securities trading activities.
Insurance
Companies in the Insurance segment offer products including life insurance, obligatory insurance, tourist medical health insurance and auto insurance. These insurance products are designed to offer comprehensive coverage and tailored solutions to protect individuals, property, auto and businesses in the event of unforeseen events or risks. Companies in the Insurance segment also conduct proprietary securities trading activities.
Other

Activities of companies in the Other segment include provision of payment processing services, financial educational center services, financial intermediary center services, financial consulting services, administrative management services, telecommunication services information processing services, entertainment ticketing sales, online air and railway ticket purchase aggregation and an online retail trade and e-commerce application. The Other segment also includes transactions conducted by the Company in connection with repurchase agreements.