Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING - Income Statement (Details)

v3.23.2
SEGMENT REPORTING - Income Statement (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
Segment Reporting Information [Line Items]      
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties) $ 327,215 $ 335,211 $ 216,008
Net gain on trading securities 71,084 155,252 28,807
Interest income 294,695 121,609 38,474
Insurance underwriting income 115,371 72,981 62,951
Net gain on foreign exchange operations 52,154 3,791 557
Total net (loss)/gain on derivatives (64,826) 946 86
TOTAL REVENUE, NET 795,693 689,790 346,883
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties) 65,660 85,909 70,537
Interest expense: 208,947 76,947 22,444
Insurance claims incurred, net of reinsurance 77,329 54,447 52,405
Payroll and bonuses 81,819 46,288 23,435
Professional services 17,006 12,682 4,430
Stock compensation expense 9,293 7,859 114
Advertising expense 14,059 11,916 6,971
General and administrative expense 59,971 23,533 11,118
Provision for impairment losses 29,119 2,502 1,590
Other (income)/expense, net (3,448) 4,014 2,034
TOTAL EXPENSE 559,755 326,097 195,078
NET INCOME BEFORE INCOME TAX 235,938 363,693 151,805
Income tax (expense)/benefit (42,776) (38,570) (23,307)
Net income from continuing operations 193,162 325,123 128,498
Central Asia and Eastern Europe      
Segment Reporting Information [Line Items]      
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties) 106,982 23,652 20,567
Net gain on trading securities 92,330 10,511 21,310
Interest income 257,285 107,075 34,158
Insurance underwriting income 115,371 72,981 62,951
Net gain on foreign exchange operations 58,908 7,824 1,072
Total net (loss)/gain on derivatives (64,826) 946 86
TOTAL REVENUE, NET 566,050 222,989 140,144
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties) 34,939 20,610 7,412
Interest expense: 172,326 66,392 16,608
Insurance claims incurred, net of reinsurance 77,329 54,447 52,405
Payroll and bonuses 56,774 32,562 16,878
Professional services 1,594 1,773 685
Stock compensation expense 6,582 4,768 0
Advertising expense 7,847 4,684 3,566
General and administrative expense 34,754 16,770 8,036
Provision for impairment losses 12,522 2,441 1,086
Other (income)/expense, net (4,485) 3,138 2,052
TOTAL EXPENSE 400,182 207,585 108,728
NET INCOME BEFORE INCOME TAX 165,868 15,404 31,416
Income tax (expense)/benefit (625) 1,195 111
Net income from continuing operations 165,243 16,599 31,527
Europe, excluding Eastern Europe      
Segment Reporting Information [Line Items]      
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties) 215,408 307,014 194,311
Net gain on trading securities (22,693) 142,195 8
Interest income 26,090 14,051 3,634
Insurance underwriting income 0 0 0
Net gain on foreign exchange operations (2,287) (5,598) (300)
Total net (loss)/gain on derivatives 0 0 0
TOTAL REVENUE, NET 216,518 457,662 197,653
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties) 29,426 64,519 62,430
Interest expense: 22,042 8,747 3,663
Insurance claims incurred, net of reinsurance 0 0 0
Payroll and bonuses 16,090 9,419 5,398
Professional services 7,397 5,540 769
Stock compensation expense 550 677 56
Advertising expense 5,900 7,217 3,386
General and administrative expense 20,496 4,894 2,518
Provision for impairment losses 15,070 61 108
Other (income)/expense, net 1,101 7 (3)
TOTAL EXPENSE 118,072 101,081 78,325
NET INCOME BEFORE INCOME TAX 98,446 356,581 119,328
Income tax (expense)/benefit (21,813) (26,786) (13,859)
Net income from continuing operations 76,633 329,795 105,469
US      
Segment Reporting Information [Line Items]      
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties) 4,825 4,545 1,130
Net gain on trading securities 1,447 2,546 7,489
Interest income 11,289 483 682
Insurance underwriting income 0 0 0
Net gain on foreign exchange operations (4,479) 1,565 (215)
Total net (loss)/gain on derivatives 0 0 0
TOTAL REVENUE, NET 13,082 9,139 9,086
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties) 1,238 780 695
Interest expense: 14,579 1,808 2,173
Insurance claims incurred, net of reinsurance 0 0 0
Payroll and bonuses 7,818 4,224 1,156
Professional services 7,875 5,295 2,975
Stock compensation expense 2,161 2,414 58
Advertising expense 186 9 19
General and administrative expense 4,095 1,749 553
Provision for impairment losses 1,527 0 396
Other (income)/expense, net (14) 872 (15)
TOTAL EXPENSE 39,465 17,151 8,010
NET INCOME BEFORE INCOME TAX (26,383) (8,012) 1,076
Income tax (expense)/benefit (20,278) (12,988) (9,559)
Net income from continuing operations (46,661) (21,000) (8,483)
Middle East/ Caucasus      
Segment Reporting Information [Line Items]      
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties) 0 0 0
Net gain on trading securities 0 0 0
Interest income 31 0 0
Insurance underwriting income 0 0 0
Net gain on foreign exchange operations 12 0 0
Total net (loss)/gain on derivatives 0 0 0
TOTAL REVENUE, NET 43 0 0
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties) 57 0 0
Interest expense: 0 0 0
Insurance claims incurred, net of reinsurance 0 0 0
Payroll and bonuses 1,137 83 3
Professional services 140 74 1
Stock compensation expense 0 0 0
Advertising expense 126 6 0
General and administrative expense 626 120 11
Provision for impairment losses 0 0 0
Other (income)/expense, net (50) (3) 0
TOTAL EXPENSE 2,036 280 15
NET INCOME BEFORE INCOME TAX (1,993) (280) (15)
Income tax (expense)/benefit (60) 9 0
Net income from continuing operations $ (2,053) $ (271) $ (15)