Annual report [Section 13 and 15(d), not S-K Item 405]

LOANS ISSUED (Tables)

v3.25.1
LOANS ISSUED (Tables)
 12 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Loans issued as of March 31, 2025, consisted of the following:
Amount Outstanding Due Dates Average Interest Rate Fair Value of
Collateral		 Loan Currency
 
Mortgage loans $ 924,530   April 2025 - March 2050 11.4% $ 924,386  KZT
Uncollateralized bank customer loans 249,448   April 2025 - March 2045 28.1% —  KZT
Right of claim for purchased retail loans 183,635   April 2025 - March 2030 15.0% 183,635  KZT
Car loans 156,340   April 2025 - April 2032 24.2% 155,320  KZT
Collateralized bank customer loans 148,759   April 2025 - July 2043 19.6% 128,543  KZT
Other 7,838  April 2025 - September 2029
18.00% / 12.70%/ 3.00%
 29  KZT/EUR/USD
Allowance for loans issued (75,115)
Total loans issued $ 1,595,435 
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 claims 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 March 31, 2025. 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 $ 336,535  $ 186,816  $ 370,588  $ 30,591  $ —  $ —  $ —  $ 924,530 
that are not credit impaired 336,051  184,610  367,918  29,876  —  —  —  918,455 
with significant increase in credit risk 410  1,361  1,402  340  —  —  —  3,513 
that are credit impaired 74  845  1,268  375  —  —  —  2,562 
Uncollateralized bank customer loans 110,094  120,583  18,771  —  —  —  —  249,448 
that are not credit impaired 108,045  103,320  15,590  —  —  —  —  226,955 
with significant increase in credit risk 1,011  3,557  663  —  —  —  —  5,231 
that are credit impaired 1,038  13,706  2,518  —  —  —  —  17,262 
Right of claim for purchased retail loans 151,237  30,702  1,688  8  —  —  —  183,635 
that are not credit impaired 151,237  30,702  1,688  8  —  —  —  183,635 
with significant increase in credit risk —  —  —  —  —  —  —  — 
that are credit impaired —  —  —  —  —  —  —  — 
Car loans 5,974  116,459  33,907  —  —  —  —  156,340 
that are not credit impaired 5,974  110,871  26,014  —  —  —  —  142,859 
with significant increase in credit risk —  1,603  836  —  —  —  —  2,439 
that are credit impaired —  3,985  7,057  —  —  —  —  11,042 
Collateralized bank customer loans 140,835  7,788  136  —  —  —  —  148,759 
that are not credit impaired 138,761  7,498  136  —  —  —  —  146,395 
with significant increase in credit risk 2,020  73  —  —  —  —  —  2,093 
that are credit impaired 54  217  —  —  —  —  —  271 
Other 232  1,237  6,323  46  —  —  —  7,838 
that are not credit impaired 232  1,229  6,323  46  —  —  —  7,830 
with significant increase in credit risk —  —  —  —  —  —  —  — 
that are credit impaired —  8  —  —  —  —  —  8 
Total $ 744,907  $ 463,585  $ 431,413  $ 30,645  $ —  $ —  $ —  $ 1,670,550 
The table below presents the Group's loan portfolio by credit quality classification as of March 31, 2024.
Term Loans by Origination Fiscal 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 March 31, 2025 and March 31, 2024, is as follows:
March 31, 2025
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 $ 2,835  $ 678  $ 2,562  $ 918,455  $ 924,530 
Uncollateralized bank customer loans 3,132  2,099  17,262  226,955  249,448 
Right of claim for purchased retail loans —  —  —  183,635  183,635 
Car loans 1,548  892  11,041  142,859  156,340 
Collateralized bank customer loans 957  1,135  271  146,396  148,759 
Other —  —  8  7,830  7,838 
Total $ 8,472  $ 4,804  $ 31,144  $ 1,626,130  $ 1,670,550 
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 as of March 31, 2025 and March 31, 2024 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 (10,043) (38,895) (4,703) (5,335) (20,324) (24) (79,324)
Recoveries 1,694  6,778  1,524  6,761  8,331  —  25,088 
Write off 1  13,273  7  2,914  —  30  16,225 
Forex 682  3,001  138  1,457  1,237  —  6,515 
March 31, 2025
 $ (10,699) $ (35,479) $ (3,114) $ (8,465) $ (17,333) $ (25) $ (75,115)
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 (2,361) (22,464) (115) (15,014) (13,334) (31) (53,319)
Recoveries 2,132  10,795  71  8,181  17,095  —  38,274 
Forex (34) (298) (1) (209) (45) —  (587)
March 31, 2024
 $ (3,033) $ (19,636) $ (80) $ (14,262) $ (6,577) $ (31) $ (43,619)