Quarterly report pursuant to Section 13 or 15(d)

RECAST- Condensed Consolidated Statement of Operations and Other Comprehensive Income (Details)

v3.22.2
RECAST- Condensed Consolidated Statement of Operations and Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Revenue:    
Fee and commission income $ 131,641 $ 97,383
Net gain/(loss) on trading securities 15,582 10,741
Net realized loss on investments available for sale (593) (31)
Interest income 49,453 24,662
Insurance underwriting income 24,241 14,076
Net gain/(loss) on foreign exchange operations 5,019 (1,024)
Net gain on derivative 1,265 (60)
TOTAL REVENUE, NET 226,608 145,747
Expense:    
Fee and commission expense 25,241 23,260
Interest expense 45,829 16,495
Insurance claims incurred, net of reinsurance 16,692 11,296
Operating expense 65,467 33,244
Provision for impairment losses/(recoveries) 2,798 293
Other expense, net (527) 125
TOTAL EXPENSE 155,500 84,713
NET INCOME BEFORE INCOME TAX 71,108 61,034
Income tax (expense)/benefit (12,035) (5,664)
NET INCOME 59,073 55,370
Less: Net loss attributable to non-controlling interest in subsidiary (1,994) (52)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 61,067 55,422
OTHER COMPREHENSIVE INCOME    
Change in unrealized gain on investments available-for-sale, net of tax effect 866 874
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect 593 31
Foreign currency translation adjustments, net of tax effect 21,977 3,022
OTHER COMPREHENSIVE INCOME 23,436 3,927
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS 82,509 59,297
Less: Comprehensive loss attributable to non-controlling interest in subsidiary (1,994) (52)
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 84,503 59,349
As previously reported    
Revenue:    
Fee and commission income   97,406
Net gain/(loss) on trading securities   9,900
Net realized loss on investments available for sale   0
Interest income   18,077
Insurance underwriting income   0
Net gain/(loss) on foreign exchange operations   (1,187)
Net gain on derivative   (59)
TOTAL REVENUE, NET   124,137
Expense:    
Fee and commission expense   21,863
Interest expense   14,272
Insurance claims incurred, net of reinsurance   0
Operating expense   30,318
Provision for impairment losses/(recoveries)   293
Other expense, net   14
TOTAL EXPENSE   66,760
NET INCOME BEFORE INCOME TAX   57,377
Income tax (expense)/benefit   (5,669)
NET INCOME   51,708
Less: Net loss attributable to non-controlling interest in subsidiary   (52)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS   51,760
OTHER COMPREHENSIVE INCOME    
Change in unrealized gain on investments available-for-sale, net of tax effect   0
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect   0
Foreign currency translation adjustments, net of tax effect   3,300
OTHER COMPREHENSIVE INCOME   3,300
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS   55,008
Less: Comprehensive loss attributable to non-controlling interest in subsidiary   (52)
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS   55,060
Recast    
Revenue:    
Fee and commission income   (23)
Net gain/(loss) on trading securities   841
Net realized loss on investments available for sale   (31)
Interest income   6,585
Insurance underwriting income   14,076
Net gain/(loss) on foreign exchange operations   163
Net gain on derivative   (1)
TOTAL REVENUE, NET   21,610
Expense:    
Fee and commission expense   1,397
Interest expense   2,223
Insurance claims incurred, net of reinsurance   11,296
Operating expense   2,926
Provision for impairment losses/(recoveries)   0
Other expense, net   111
TOTAL EXPENSE   17,953
NET INCOME BEFORE INCOME TAX   3,657
Income tax (expense)/benefit   5
NET INCOME   3,662
Less: Net loss attributable to non-controlling interest in subsidiary   0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS   3,662
OTHER COMPREHENSIVE INCOME    
Change in unrealized gain on investments available-for-sale, net of tax effect   874
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect   31
Foreign currency translation adjustments, net of tax effect   (278)
OTHER COMPREHENSIVE INCOME   627
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS   4,289
Less: Comprehensive loss attributable to non-controlling interest in subsidiary   0
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS   $ 4,289