| Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations |
The table below presents net capital/eligible equity, required minimum capital, excess regulatory capital and retained earnings as of June 30, 2024 for each of the regulated entities that is material for our condensed consolidated financial statements.
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| (amounts in thousands) |
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Regulated activities |
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Net Capital/Eligible Equity |
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Required Minimum capital/solvency |
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Excess regulatory capital |
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Retained earnings |
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| Freedom KZ |
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Brokerage |
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$ |
98,663 |
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$ |
392 |
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$ |
98,271 |
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$ |
119,274 |
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Freedom Bank KZ |
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Bank |
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287,384 |
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|
180,584 |
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|
106,800 |
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|
158,915 |
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| Freedom Life |
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Life Insurance |
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42,612 |
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|
11,746 |
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30,866 |
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|
65,887 |
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| Freedom EU |
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Brokerage |
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269,057 |
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|
10,971 |
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|
258,086 |
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|
567,393 |
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| Freedom Insurance |
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Property and Casual Insurance |
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31,981 |
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11,746 |
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20,235 |
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23,447 |
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| Freedom Global |
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Brokerage |
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133,246 |
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|
22,597 |
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110,649 |
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|
161,302 |
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| Freedom Armenia ("Freedom AR") |
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Brokerage |
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13,055 |
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|
775 |
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12,280 |
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|
12,791 |
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| Other regulated operating subsidiaries |
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Other |
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9,304 |
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154 |
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9,150 |
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(17,652) |
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$ |
885,302
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$ |
238,965
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$ |
646,337
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$ |
1,091,357
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The table below presents net capital/eligible equity, required minimum capital, excess regulatory capital and retained earnings as of March 31, 2024 for each of the regulated entities that is material for our condensed consolidated financial statements.
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| (amounts in thousands) |
|
Regulated activities |
|
Net Capital/Eligible Equity |
|
Required Minimum capital/solvency |
|
Excess regulatory capital |
|
Retained earnings |
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| Freedom KZ |
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Brokerage |
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$ |
107,064 |
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$ |
413 |
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$ |
106,651 |
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$ |
122,416 |
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Freedom Bank KZ |
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Bank |
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329,738 |
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|
196,594 |
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|
133,144 |
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|
193,376 |
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| Freedom Life |
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Life Insurance |
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50,757 |
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|
12,395 |
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38,362 |
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|
57,085 |
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| Freedom EU |
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Brokerage |
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269,424 |
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10,868 |
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|
258,556 |
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|
319,484 |
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| Freedom Insurance |
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Property and Casual Insurance |
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30,011 |
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12,395 |
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17,616 |
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|
19,773 |
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| Freedom Global |
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Brokerage |
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16,428 |
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|
12,352 |
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4,076 |
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|
117,468 |
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| Freedom Armenia ("Freedom AR") |
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Brokerage |
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7,317 |
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|
763 |
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6,554 |
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|
6,447 |
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| Other regulated operating subsidiaries |
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Other |
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8,533 |
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|
155 |
|
8,378 |
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(11,665) |
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$ |
819,272
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$ |
245,935
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$ |
573,337
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$ |
824,384
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