LOAN ISSUED (Tables)
|
3 Months Ended |
Jun. 30, 2024 |
Loans and Leases Receivable Disclosure [Abstract] |
|
Schedule of Accounts, Notes, Loans and Financing Receivable |
Loans issued as of June 30, 2024, consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount Outstanding |
|
Due Dates |
|
Average Interest Rate |
|
Fair Value of Collateral |
|
Loan Currency |
|
|
|
|
|
|
|
|
|
|
Mortgage loans |
$ |
724,295 |
|
|
July 2024 - June 2049 |
|
10.3% |
|
$ |
724,294 |
|
|
KZT |
Car loans |
227,234 |
|
|
July 2024 - April 2032 |
|
23.9% |
|
224,380 |
|
|
KZT |
Uncollateralized bank customer loans |
231,833 |
|
|
July 2024 - June 2044 |
|
27.7% |
|
— |
|
|
KZT |
Right of claim for purchased retail loans |
134,333 |
|
|
July 2024 - August 2029 |
|
15.0% |
|
134,333 |
|
|
KZT |
Collateralized bank customer loans |
29,102 |
|
|
July 2024 - July 2043 |
|
19.3% |
|
27,982 |
|
|
KZT |
Subordinated loan |
5,038 |
|
|
December 2025 |
|
3.0% |
|
— |
|
|
USD |
Other |
2,803 |
|
|
August 2024 - January 2029 |
|
18.6%/15.0%/2.5% |
|
33 |
|
|
KZT/USD/EUR |
|
|
|
|
|
|
|
|
|
|
Allowance for loans issued |
(40,086) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans issued |
$ |
1,314,552
|
|
|
|
|
|
|
|
|
|
Loans issued as of March 31, 2024, consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount Outstanding |
|
Due Dates |
|
Average Interest Rate |
|
Fair Value of Collateral |
|
Loan Currency |
|
|
|
|
|
|
|
|
|
|
Mortgage loans |
$ |
741,312 |
|
|
April, 2024 - March, 2049 |
|
10.3% |
|
$ |
740,462 |
|
|
KZT |
Car loans |
262,708 |
|
|
April, 2024 - March, 2031 |
|
23.9% |
|
259,755 |
|
|
KZT |
Uncollateralized bank customer loans |
245,188 |
|
|
April, 2024 - March, 2044 |
|
27.4% |
|
— |
|
|
KZT |
Right of claim for purchased retail loans |
146,152 |
|
|
April, 2024 - March, 2029 |
|
15.0% |
|
146,152 |
|
|
KZT |
Collateralized bank customer loans |
22,299 |
|
|
June, 2024 - July, 2043 |
|
19.1% |
|
22,270 |
|
|
KZT |
Subordinated loan |
5,037 |
|
|
December, 2025 |
|
3.0% |
|
— |
|
|
USD |
Other |
2,638 |
|
|
April, 2024 - January, 2029 |
|
18.6%/15.0%/2.5% |
|
18 |
|
|
KZT/USD/EUR |
|
|
|
|
|
|
|
|
|
|
Allowance for loans issued |
(43,619) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans issued |
$ |
1,381,715
|
|
|
|
|
|
|
|
|
|
|
Financing Receivable Credit Quality Indicators |
The table below presents the Group's loan portfolio by credit quality classification and origination year as of June 30, 2024. Current vintage disclosure is the requirement due to first adoption of ASC 326.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term Loans by Origination Year |
|
2025 |
|
2024 |
|
2023 |
|
2022 |
|
2021 |
|
Prior |
|
Revolving loans |
|
Total |
Mortgage loans |
$ |
37,141
|
|
|
$ |
223,214
|
|
|
$ |
426,566
|
|
|
$ |
37,374
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
724,295
|
|
that are not credit impaired |
37,141 |
|
|
221,389 |
|
|
423,582 |
|
|
37,002 |
|
|
|
|
|
|
|
|
719,114 |
|
with significant increase in credit risk |
— |
|
|
1,322 |
|
|
1,627 |
|
|
298 |
|
|
|
|
|
|
|
|
3,247 |
|
that are credit impaired |
— |
|
|
503 |
|
|
1,357 |
|
|
74 |
|
|
|
|
|
|
|
|
1,934 |
|
Car loans |
661
|
|
|
170,230
|
|
|
56,343
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
227,234
|
|
that are not credit impaired |
661 |
|
|
165,792 |
|
|
45,318 |
|
|
|
|
|
|
|
|
|
|
211,771 |
|
with significant increase in credit risk |
— |
|
|
1,990 |
|
|
1,741 |
|
|
|
|
|
|
|
|
|
|
3,731 |
|
that are credit impaired |
— |
|
|
2,448 |
|
|
9,284 |
|
|
|
|
|
|
|
|
|
|
11,732 |
|
Uncollateralized bank customer loans |
18,126
|
|
|
183,176
|
|
|
30,524
|
|
|
7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
231,833
|
|
that are not credit impaired |
18,058 |
|
|
168,030 |
|
|
25,547 |
|
|
— |
|
|
|
|
|
|
|
|
211,635 |
|
with significant increase in credit risk |
68 |
|
|
4,559 |
|
|
1,030 |
|
|
— |
|
|
|
|
|
|
|
|
5,657 |
|
that are credit impaired |
— |
|
|
10,587 |
|
|
3,947 |
|
|
7 |
|
|
|
|
|
|
|
|
14,541 |
|
Right of claim for purchased retail loans |
36,886
|
|
|
87,911
|
|
|
9,436
|
|
|
100
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
134,333
|
|
that are not credit impaired |
36,886 |
|
|
87,911 |
|
|
9,436 |
|
|
100 |
|
|
|
|
|
|
|
|
134,333 |
|
with significant increase in credit risk |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
— |
|
that are credit impaired |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
— |
|
Collateralized bank customer loans |
11,615
|
|
|
17,223
|
|
|
264
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
29,102
|
|
that are not credit impaired |
11,615 |
|
|
17,095 |
|
|
264 |
|
|
|
|
|
|
|
|
|
|
28,974 |
|
with significant increase in credit risk |
— |
|
|
128 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
128 |
|
that are credit impaired |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
— |
|
Subordinated loan |
—
|
|
|
—
|
|
|
5,038
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,038
|
|
that are not credit impaired |
— |
|
|
— |
|
|
5,038 |
|
|
|
|
|
|
|
|
|
|
5,038 |
|
with significant increase in credit risk |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
— |
|
that are credit impaired |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
— |
|
Other |
215
|
|
|
2,371
|
|
|
154
|
|
|
63
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,803
|
|
that are not credit impaired |
215 |
|
|
2,362 |
|
|
154 |
|
|
63 |
|
|
|
|
|
|
|
|
2,794 |
|
with significant increase in credit risk |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
— |
|
that are credit impaired |
— |
|
|
9 |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
9 |
|
Total |
$ |
104,644
|
|
|
$ |
684,125
|
|
|
$ |
528,325
|
|
|
$ |
37,544
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
1,354,638
|
|
The table below presents the Group's loan portfolio by credit quality classification as of March 31, 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term Loans by Origination Year |
|
2024 |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
Prior |
|
Revolving loans |
|
Total |
Mortgage loans |
$ |
241,848
|
|
|
$ |
458,401
|
|
|
$ |
41,063
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
741,312
|
|
that are not credit impaired |
240,974 |
|
|
454,933 |
|
|
40,784 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
736,691 |
|
with significant increase in credit risk |
676 |
|
|
2,415 |
|
|
111 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
3,202 |
|
that are credit impaired |
198 |
|
|
1,053 |
|
|
168 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
1,419 |
|
Car loans |
196,305
|
|
|
66,403
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
262,708
|
|
that are not credit impaired |
193,302 |
|
|
55,427 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
248,729 |
|
with significant increase in credit risk |
1,590 |
|
|
2,232 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
3,822 |
|
that are credit impaired |
1,413 |
|
|
8,744 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
10,157 |
|
Uncollateralized bank customer loans |
210,612
|
|
|
34,568
|
|
|
8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
245,188
|
|
that are not credit impaired |
200,211 |
|
|
30,337 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
230,548 |
|
with significant increase in credit risk |
4,715 |
|
|
1,072 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
5,787 |
|
that are credit impaired |
5,686 |
|
|
3,159 |
|
|
8 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
8,853 |
|
Right of claim for purchased retail loans |
130,291
|
|
|
15,694
|
|
|
167
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
146,152
|
|
that are not credit impaired |
130,291 |
|
|
15,694 |
|
|
167 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
146,152 |
|
with significant increase in credit risk |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
that are credit impaired |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Collateralized bank customer loans |
21,972
|
|
|
327
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
22,299
|
|
that are not credit impaired |
21,796 |
|
|
327 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
22,123 |
|
with significant increase in credit risk |
89 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
89 |
|
that are credit impaired |
87 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
87 |
|
Subordinated loan |
—
|
|
|
5,037
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,037
|
|
that are not credit impaired |
— |
|
|
5,037 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
5,037 |
|
with significant increase in credit risk |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
that are credit impaired |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other |
2,404
|
|
|
165
|
|
|
69
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,638
|
|
that are not credit impaired |
2,395 |
|
|
165 |
|
|
69 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
2,629 |
|
with significant increase in credit risk |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
that are credit impaired |
9 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
9 |
|
Total |
$ |
803,432
|
|
|
$ |
580,595
|
|
|
$ |
41,307
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
—
|
|
|
$ |
1,425,334
|
|
|
Financing Receivable, Past Due |
Aging analysis of past due loans as of June 30, 2024 and March 31, 2024, is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2024 |
|
Loans 30-59 Days past due |
|
Loans 60-89 days past due |
|
Loans 90 days or more past due and still accruing |
|
Current loans |
|
Total |
Mortgage loans |
$ |
1,762 |
|
|
$ |
1,485 |
|
|
$ |
1,934 |
|
|
$ |
719,114 |
|
|
$ |
724,295 |
|
Car loans |
2,006 |
|
|
1,725 |
|
|
11,732 |
|
|
211,771 |
|
|
227,234 |
|
Uncollateralized bank customer loans |
3,021 |
|
|
2,636 |
|
|
14,541 |
|
|
211,635 |
|
|
231,833 |
|
Right of claim for purchased retail loans |
— |
|
|
— |
|
|
— |
|
|
134,333 |
|
|
134,333 |
|
Collateralized bank customer loans |
99 |
|
|
29 |
|
|
— |
|
|
28,974 |
|
|
29,102 |
|
Subordinated loan |
— |
|
|
— |
|
|
— |
|
|
5,038 |
|
|
5,038 |
|
Other |
— |
|
|
— |
|
|
9 |
|
|
2,794 |
|
|
2,803 |
|
Total |
$ |
6,888
|
|
|
$ |
5,875
|
|
|
$ |
28,216
|
|
|
$ |
1,313,659
|
|
|
$ |
1,354,638
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2024 |
|
Loans 30-59 Days past due |
|
Loans 60-89 days past due |
|
Loans 90 days or more past due and still accruing |
|
Current loans |
|
Total |
Mortgage loans |
$ |
2,133 |
|
|
$ |
1,069 |
|
|
$ |
1,419 |
|
|
$ |
736,691 |
|
|
$ |
741,312 |
|
Car loans |
2,167 |
|
|
1,655 |
|
|
10,157 |
|
|
248,729 |
|
|
262,708 |
|
Uncollateralized bank customer loans |
3,576 |
|
|
2,211 |
|
|
8,853 |
|
|
230,548 |
|
|
245,188 |
|
Right of claim for purchased retail loans |
— |
|
|
— |
|
|
— |
|
|
146,152 |
|
|
146,152 |
|
Collateralized bank customer loans |
— |
|
|
89 |
|
|
87 |
|
|
22,123 |
|
|
22,299 |
|
Subordinated loan |
— |
|
|
— |
|
|
— |
|
|
5,037 |
|
|
5,037 |
|
Other |
— |
|
|
— |
|
|
9 |
|
|
2,629 |
|
|
2,638 |
|
Total |
$ |
7,876
|
|
|
$ |
5,024
|
|
|
$ |
20,525
|
|
|
$ |
1,391,909
|
|
|
$ |
1,425,334
|
|
|
Financing Receivable, Allowance for Credit Loss |
The activity in the allowance for credit losses for the three months ended June 30, 2024 and 2023 is summarized in the following tables.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses |
|
Mortgage loan |
|
Uncollateralized bank customer loans |
|
Collateralized bank customer loans |
|
Car loans |
|
Right of claim for purchased retail loans |
|
Other |
|
Total |
March 31, 2024 |
$ |
(3,033) |
|
|
$ |
(19,636) |
|
|
$ |
(80) |
|
|
$ |
(14,262) |
|
|
$ |
(6,577) |
|
|
$ |
(31) |
|
|
$ |
(43,619) |
|
Charges |
(728) |
|
|
(6,389) |
|
|
(116) |
|
|
(1,526) |
|
|
(1,490) |
|
|
(6) |
|
|
(10,255) |
|
Recoveries |
295 |
|
|
3,733 |
|
|
20 |
|
|
3,938 |
|
|
3,473 |
|
|
|
|
11,459 |
|
Write off |
— |
|
|
— |
|
|
4 |
|
|
109 |
|
|
— |
|
|
— |
|
|
113 |
|
Forex |
180 |
|
|
1,160 |
|
|
9 |
|
|
621 |
|
|
246 |
|
|
|
|
2,216 |
|
June 30, 2024 |
$ |
(3,286) |
|
|
$ |
(21,132) |
|
|
$ |
(163) |
|
|
$ |
(11,120) |
|
|
$ |
(4,348) |
|
|
$ |
(37) |
|
|
$ |
(40,086) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses |
|
Mortgage loan |
|
Uncollateralized bank customer loans |
|
Collateralized bank customer loans |
|
Car loans |
|
Right of claim for purchased retail loans |
|
Other |
|
Total |
March 31, 2023 |
$ |
(554) |
|
|
$ |
(233) |
|
|
$ |
—
|
|
|
$ |
(758) |
|
|
$ |
(1,247) |
|
|
$ |
—
|
|
|
$ |
(2,792) |
|
Adjustment to allowance for adoption of ASU 2016-13 |
(2,216) |
|
|
(7,436) |
|
|
(35) |
|
|
(6,462) |
|
|
(9,046) |
|
|
— |
|
|
(25,195) |
|
Charges |
— |
|
|
(7,755) |
|
|
(55) |
|
|
(2,948) |
|
|
(5,346) |
|
|
(3,261) |
|
|
(19,365) |
|
Recoveries |
284 |
|
|
1,602 |
|
|
8 |
|
|
272 |
|
|
3,345 |
|
|
— |
|
|
5,511 |
|
Forex |
3 |
|
|
64 |
|
|
2 |
|
|
34 |
|
|
34 |
|
|
— |
|
|
137 |
|
June 30, 2023 |
$ |
(2,483) |
|
|
$ |
(13,758) |
|
|
$ |
(80) |
|
|
$ |
(9,862) |
|
|
$ |
(12,260) |
|
|
$ |
(3,261) |
|
|
$ |
(41,704) |
|
|