Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING - Income Statement (Details)

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SEGMENT REPORTING - Income Statement (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Segment Reporting Information [Line Items]      
Fee and commission income $ 440,333 $ 327,215 $ 335,211
Net gain on trading securities 133,854 71,084 155,252
Interest income 828,224 294,695 121,609
Insurance underwriting income 264,218 115,371 72,981
Net (loss)/gain on foreign exchange operations 72,245 52,154 3,791
Net (loss)/gain on derivatives (103,794) (64,826) 946
TOTAL REVENUE, NET 1,635,080 795,693 689,790
Fee and commission expense 154,351 65,660 85,909
Interest expense 501,111 208,947 76,947
Insurance claims incurred, net of reinsurance 139,561 77,329 54,447
Payroll and bonuses 181,023 81,819 46,288
Professional services 34,238 17,006 12,682
Stock compensation expense 22,719 9,293 7,859
Advertising expense 38,327 14,059 11,916
General and administrative expense 120,888 59,971 23,533
Allowance for expected credit losses 21,225 29,119 2,502
Other income, net (13,734) (3,448) 4,014
TOTAL EXPENSE 1,199,709 559,755 326,097
INCOME BEFORE INCOME TAX 435,371 235,938 363,693
Income tax expense (60,419) (42,776) (38,570)
INCOME FROM CONTINUING OPERATIONS 374,952 193,162 325,123
Brokerage      
Segment Reporting Information [Line Items]      
Fee and commission income 352,481 299,070 327,052
Net gain on trading securities 33,483 20,736 32,376
Interest income 233,858 64,654 35,204
Insurance underwriting income 0 0 0
Net (loss)/gain on foreign exchange operations (852) (347) 1,249
Net (loss)/gain on derivatives (2,019) 463 (319)
TOTAL REVENUE, NET 616,951 384,576 395,562
Fee and commission expense 24,740 33,126 67,005
Interest expense 89,732 43,089 20,934
Insurance claims incurred, net of reinsurance 0 1 0
Payroll and bonuses 71,077 37,583 25,838
Professional services 6,977 4,978 2,885
Stock compensation expense 11,352 5,648 4,190
Advertising expense 25,353 9,063 9,647
General and administrative expense 40,847 32,906 11,970
Allowance for expected credit losses 2,962 16,911 89
Other income, net (5,003) (904) (110)
TOTAL EXPENSE 268,037 182,401 142,448
INCOME BEFORE INCOME TAX 348,914 202,175 253,114
Income tax expense (51,158) (32,632) (27,810)
INCOME FROM CONTINUING OPERATIONS 297,756 169,543 225,304
Bank      
Segment Reporting Information [Line Items]      
Fee and commission income 26,236 18,208 7,000
Net gain on trading securities 87,459 55,437 19,204
Interest income 524,596 177,561 54,438
Insurance underwriting income 0 0 0
Net (loss)/gain on foreign exchange operations 78,174 59,190 2,439
Net (loss)/gain on derivatives (101,805) (65,291) 1,265
TOTAL REVENUE, NET 614,660 245,105 84,346
Fee and commission expense 13,219 9,097 5,849
Interest expense 368,286 130,693 42,429
Insurance claims incurred, net of reinsurance 0 0 0
Payroll and bonuses 48,953 21,749 9,387
Professional services 527 466 749
Stock compensation expense 6,124 372 314
Advertising expense 4,828 3,251 378
General and administrative expense 30,804 13,671 4,840
Allowance for expected credit losses 16,399 8,773 2,120
Other income, net (1,210) (230) 539
TOTAL EXPENSE 487,930 187,842 66,605
INCOME BEFORE INCOME TAX 126,730 57,263 17,741
Income tax expense (15,857) (7,832) (655)
INCOME FROM CONTINUING OPERATIONS 110,873 49,431 17,086
Insurance      
Segment Reporting Information [Line Items]      
Fee and commission income 296 128 83
Net gain on trading securities 14,114 16,063 (1,093)
Interest income 63,676 41,007 31,455
Insurance underwriting income 264,218 115,371 72,981
Net (loss)/gain on foreign exchange operations (1,306) (1,846) 1,812
Net (loss)/gain on derivatives 0 0 0
TOTAL REVENUE, NET 340,998 170,723 105,238
Fee and commission expense 103,346 22,824 12,666
Interest expense 29,965 18,492 11,498
Insurance claims incurred, net of reinsurance 139,561 77,328 54,447
Payroll and bonuses 18,796 11,733 6,510
Professional services 561 580 558
Stock compensation expense 2,755 279 236
Advertising expense 789 1,191 1,857
General and administrative expense 5,413 5,024 4,788
Allowance for expected credit losses 942 1,071 293
Other income, net (3,603) (2,346) 2,702
TOTAL EXPENSE 298,525 136,176 95,555
INCOME BEFORE INCOME TAX 42,473 34,547 9,683
Income tax expense (8,662) (5,106) (41)
INCOME FROM CONTINUING OPERATIONS 33,811 29,441 9,642
Other      
Segment Reporting Information [Line Items]      
Fee and commission income 61,320 9,809 1,076
Net gain on trading securities (1,202) (21,152) 104,765
Interest income 6,094 11,473 512
Insurance underwriting income 0 0 0
Net (loss)/gain on foreign exchange operations (3,771) (4,843) (1,709)
Net (loss)/gain on derivatives 30 2 0
TOTAL REVENUE, NET 62,471 (4,711) 104,644
Fee and commission expense 13,046 613 389
Interest expense 13,128 16,673 2,086
Insurance claims incurred, net of reinsurance 0 0 0
Payroll and bonuses 42,197 10,754 4,553
Professional services 26,173 10,982 8,490
Stock compensation expense 2,488 2,994 3,119
Advertising expense 7,357 554 34
General and administrative expense 43,824 8,370 1,935
Allowance for expected credit losses 922 2,364 0
Other income, net (3,918) 32 883
TOTAL EXPENSE 145,217 53,336 21,489
INCOME BEFORE INCOME TAX (82,746) (58,047) 83,155
Income tax expense 15,258 2,794 (10,064)
INCOME FROM CONTINUING OPERATIONS $ (67,488) $ (55,253) $ 73,091