Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING - Results by segment (Details)

v3.24.3
SEGMENT REPORTING - Results by segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Segment Reporting Information [Line Items]        
Fee and commission income $ 121,051 $ 111,703 $ 236,540 $ 210,406
Net gain/(loss) on trading securities 68,317 50,771 16,215 82,587
Interest income 210,324 213,063 436,328 362,412
Insurance underwriting income 160,344 57,976 289,752 102,865
Net gain/(loss) on foreign exchange operations 6,479 (3,696) 14,568 15,605
Net gain/(loss) on derivative 6,308 1,378 18,802 (29,227)
Other income/(expense), net 8,077 4,386 19,410 7,143
TOTAL REVENUE, NET 580,900 435,581 1,031,615 751,791
Fee and commission expense 90,837 31,614 170,984 60,298
Interest expense 124,665 139,381 270,383 234,427
Insurance claims incurred, net of reinsurance 66,684 33,988 113,993 55,502
Payroll and bonuses 66,210 39,998 123,734 71,628
Professional services 8,245 11,951 15,513 18,576
Stock compensation expense 12,056 1,031 22,671 2,264
Advertising expense 20,049 8,639 37,250 16,739
General and administrative expenses 53,240 29,630 98,345 54,105
Provision for allowance/(recovery of) expected credit losses 10,427 4,662 8,657 18,988
TOTAL EXPENSE 452,413 300,894 861,530 532,527
INCOME BEFORE INCOME TAX 128,487 134,687 170,085 219,264
Income tax (expense)/benefit (13,999) (19,208) (21,338) (35,864)
NET INCOME 114,488 115,479 148,747 183,400
Brokerage        
Segment Reporting Information [Line Items]        
Fee and commission income 108,640 87,674 206,583 151,646
Net gain/(loss) on trading securities 10,095 17,110 10,969 26,277
Interest income 52,848 59,906 115,637 92,115
Insurance underwriting income 0 0 0 0
Net gain/(loss) on foreign exchange operations 2,386 5,009 12,343 5,120
Net gain/(loss) on derivative 455 302 1,331 297
Other income/(expense), net 373 1,248 2,850 1,864
TOTAL REVENUE, NET 174,797 171,249 349,713 277,319
Fee and commission expense 7,964 6,442 13,641 12,300
Interest expense 18,672 28,315 53,293 49,553
Insurance claims incurred, net of reinsurance 0 0 0 0
Payroll and bonuses 15,915 13,691 41,166 26,190
Professional services 1,867 1,625 4,256 3,952
Stock compensation expense 6,282 659 11,597 1,448
Advertising expense 14,702 6,068 26,646 10,856
General and administrative expenses 8,695 13,269 18,908 21,726
Provision for allowance/(recovery of) expected credit losses 422 (872) 93 (632)
TOTAL EXPENSE 74,519 69,197 169,600 125,393
INCOME BEFORE INCOME TAX 100,278 102,052 180,113 151,926
Income tax (expense)/benefit (14,631) (7,792) (24,835) (10,471)
NET INCOME 85,647 94,260 155,278 141,455
Banking        
Segment Reporting Information [Line Items]        
Fee and commission income 2,198 9,526 4,994 22,692
Net gain/(loss) on trading securities 52,850 30,470 2,843 44,990
Interest income 141,986 133,300 288,049 232,394
Insurance underwriting income 0 0 0 0
Net gain/(loss) on foreign exchange operations (1,566) (7,390) (21,261) 12,450
Net gain/(loss) on derivative 5,853 679 17,471 (30,095)
Other income/(expense), net 188 164 615 (28)
TOTAL REVENUE, NET 201,509 166,749 292,711 282,403
Fee and commission expense 3,325 5,138 5,851 9,121
Interest expense 96,454 99,711 196,341 162,410
Insurance claims incurred, net of reinsurance 0 0 0 0
Payroll and bonuses 23,724 13,003 29,841 22,515
Professional services 68 210 164 290
Stock compensation expense 2,175 52 4,131 114
Advertising expense 829 720 1,893 2,756
General and administrative expenses 12,479 6,775 24,864 13,173
Provision for allowance/(recovery of) expected credit losses 10,142 5,469 9,021 16,753
TOTAL EXPENSE 149,196 131,078 272,106 227,132
INCOME BEFORE INCOME TAX 52,313 35,671 20,605 55,271
Income tax (expense)/benefit (6,643) 0 (3,418) 0
NET INCOME 45,670 35,671 17,187 55,271
Insurance        
Segment Reporting Information [Line Items]        
Fee and commission income 32 2 147 44
Net gain/(loss) on trading securities 3,595 3,713 3,734 12,817
Interest income 14,265 18,691 29,964 34,699
Insurance underwriting income 160,344 57,976 289,752 102,865
Net gain/(loss) on foreign exchange operations 275 (239) 1,395 (668)
Net gain/(loss) on derivative 0 0 0 0
Other income/(expense), net (336) 452 446 1,215
TOTAL REVENUE, NET 178,175 80,595 325,438 150,972
Fee and commission expense 74,161 18,430 139,048 35,854
Interest expense 1,950 10,042 5,833 18,461
Insurance claims incurred, net of reinsurance 66,684 33,988 113,993 55,502
Payroll and bonuses 7,755 3,569 14,616 6,895
Professional services 430 48 707 174
Stock compensation expense 1,929 31 2,804 68
Advertising expense 114 236 464 381
General and administrative expenses 7,581 1,323 12,799 2,572
Provision for allowance/(recovery of) expected credit losses 72 90 397 1,312
TOTAL EXPENSE 160,676 67,757 290,661 121,219
INCOME BEFORE INCOME TAX 17,499 12,838 34,777 29,753
Income tax (expense)/benefit (2,709) (7) (6,184) 30
NET INCOME 14,790 12,831 28,593 29,783
Other        
Segment Reporting Information [Line Items]        
Fee and commission income 10,181 14,501 24,816 36,024
Net gain/(loss) on trading securities 1,777 (522) (1,331) (1,497)
Interest income 1,225 1,166 2,678 3,204
Insurance underwriting income 0 0 0 0
Net gain/(loss) on foreign exchange operations 5,384 (1,076) 22,091 (1,297)
Net gain/(loss) on derivative 0 397 0 571
Other income/(expense), net 7,852 2,522 15,499 4,092
TOTAL REVENUE, NET 26,419 16,988 63,753 41,097
Fee and commission expense 5,387 1,604 12,444 3,023
Interest expense 7,589 1,313 14,916 4,003
Insurance claims incurred, net of reinsurance 0 0 0 0
Payroll and bonuses 18,816 9,735 38,111 16,028
Professional services 5,880 10,068 10,386 14,160
Stock compensation expense 1,670 289 4,139 634
Advertising expense 4,404 1,615 8,247 2,746
General and administrative expenses 24,485 8,263 41,774 16,634
Provision for allowance/(recovery of) expected credit losses (209) (25) (854) 1,555
TOTAL EXPENSE 68,022 32,862 129,163 58,783
INCOME BEFORE INCOME TAX (41,603) (15,874) (65,410) (17,686)
Income tax (expense)/benefit 9,984 (11,409) 13,099 (25,423)
NET INCOME $ (31,619) $ (27,283) $ (52,311) $ (43,109)