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

SEGMENT REPORTING - Income Statement (Details)

v3.25.1
SEGMENT REPORTING - Income Statement (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Segment Reporting Information [Line Items]      
Fee and commission income $ 505,026 $ 440,333 $ 327,215
Net gain/(loss) on trading securities (57,810) 133,854 71,084
Interest income 864,453 828,224 294,695
Insurance underwriting income 617,596 264,218 115,371
Net (loss)/gain on foreign exchange operations 51,684 72,245 52,154
Net gain/(loss) on derivatives 12,404 (103,794) (64,826)
Sales of goods and services 40,102 21,576 0
Other income 17,072 9,696 3,448
TOTAL REVENUE, NET 2,050,527 1,666,352 799,141
Fee and commission expense 346,074 154,351 65,660
Interest expense 535,895 501,111 208,947
Insurance claims incurred, net of reinsurance 298,109 139,561 77,329
Payroll and bonuses 288,163 181,023 81,819
Professional services 28,924 34,238 17,006
Stock compensation expense 59,592 22,719 9,293
Advertising and sponsorship expense (including $18,497 ,$—, and — from related parties) 124,627 38,327 14,059
General and administrative expense 162,474 120,888 59,971
Allowance for expected credit losses 62,445 21,225 29,119
Cost of sales 31,278 17,538 0
TOTAL EXPENSE 1,937,581 1,230,981 563,203
INCOME BEFORE INCOME TAX 112,946 435,371 235,938
Income tax (expense)/benefit (28,425) (60,419) (42,776)
INCOME FROM CONTINUING OPERATIONS 84,521 374,952 193,162
Brokerage      
Segment Reporting Information [Line Items]      
Fee and commission income 441,839 352,481 299,070
Net gain/(loss) on trading securities 10,487 33,483 20,736
Interest income 254,340 233,858 64,654
Insurance underwriting income 0 0 0
Net (loss)/gain on foreign exchange operations 7,021 (852) (347)
Net gain/(loss) on derivatives 734 (2,019) 463
Sales of goods and services 0 0  
Other income 2,928 5,003 904
TOTAL REVENUE, NET 717,349 621,954 385,480
Fee and commission expense 29,280 24,740 33,126
Interest expense 84,543 89,732 43,089
Insurance claims incurred, net of reinsurance 0 0 1
Payroll and bonuses 98,352 71,077 37,583
Professional services 6,213 6,977 4,978
Stock compensation expense 27,584 11,352 5,648
Advertising and sponsorship expense (including $18,497 ,$—, and — from related parties) 50,933 25,353 9,063
General and administrative expense 37,592 40,847 32,906
Allowance for expected credit losses 6,224 2,962 16,911
Cost of sales 0 0  
TOTAL EXPENSE 340,721 273,040 183,305
INCOME BEFORE INCOME TAX 376,628 348,914 202,175
Income tax (expense)/benefit (61,122) (51,158) (32,632)
INCOME FROM CONTINUING OPERATIONS 315,506 297,756 169,543
Banking      
Segment Reporting Information [Line Items]      
Fee and commission income 14,689 26,236 18,208
Net gain/(loss) on trading securities (66,426) 87,459 55,437
Interest income 544,221 524,596 177,561
Insurance underwriting income 0 0 0
Net (loss)/gain on foreign exchange operations 8,750 78,174 59,190
Net gain/(loss) on derivatives 5,284 (101,805) (65,291)
Sales of goods and services 0 0  
Other income (370) 1,210 230
TOTAL REVENUE, NET 506,148 615,870 245,335
Fee and commission expense 14,562 13,219 9,097
Interest expense 400,905 368,286 130,693
Insurance claims incurred, net of reinsurance 0 0 0
Payroll and bonuses 62,876 48,953 21,749
Professional services 837 527 466
Stock compensation expense 12,617 6,124 372
Advertising and sponsorship expense (including $18,497 ,$—, and — from related parties) 6,747 4,828 3,251
General and administrative expense 47,589 30,804 13,671
Allowance for expected credit losses 54,759 16,399 8,773
Cost of sales 0 0  
TOTAL EXPENSE 600,892 489,140 188,072
INCOME BEFORE INCOME TAX (94,744) 126,730 57,263
Income tax (expense)/benefit 8,252 (15,857) (7,832)
INCOME FROM CONTINUING OPERATIONS (86,492) 110,873 49,431
Insurance      
Segment Reporting Information [Line Items]      
Fee and commission income 0 296 128
Net gain/(loss) on trading securities 1,843 14,114 16,063
Interest income 60,550 63,676 41,007
Insurance underwriting income 617,596 264,218 115,371
Net (loss)/gain on foreign exchange operations 2,621 (1,306) (1,846)
Net gain/(loss) on derivatives 0 0 0
Sales of goods and services 0 0  
Other income 416 3,603 2,346
TOTAL REVENUE, NET 683,026 344,601 173,069
Fee and commission expense 284,580 103,346 22,824
Interest expense 12,331 29,965 18,492
Insurance claims incurred, net of reinsurance 298,109 139,561 77,328
Payroll and bonuses 32,381 18,796 11,733
Professional services 1,602 561 580
Stock compensation expense 10,792 2,755 279
Advertising and sponsorship expense (including $18,497 ,$—, and — from related parties) 1,403 789 1,191
General and administrative expense 17,685 5,413 5,024
Allowance for expected credit losses 2,031 942 1,071
Cost of sales 0 0  
TOTAL EXPENSE 660,914 302,128 138,522
INCOME BEFORE INCOME TAX 22,112 42,473 34,547
Income tax (expense)/benefit (3,427) (8,662) (5,106)
INCOME FROM CONTINUING OPERATIONS 18,685 33,811 29,441
Other      
Segment Reporting Information [Line Items]      
Fee and commission income 48,498 61,320 9,809
Net gain/(loss) on trading securities (3,714) (1,202) (21,152)
Interest income 5,342 6,094 11,473
Insurance underwriting income 0 0 0
Net (loss)/gain on foreign exchange operations 33,292 (3,771) (4,843)
Net gain/(loss) on derivatives 6,386 30 2
Sales of goods and services 40,102 21,576  
Other income 14,098 (120) (32)
TOTAL REVENUE, NET 144,004 83,927 (4,743)
Fee and commission expense 17,652 13,046 613
Interest expense 38,116 13,128 16,673
Insurance claims incurred, net of reinsurance 0 0 0
Payroll and bonuses 94,554 42,197 10,754
Professional services 20,272 26,173 10,982
Stock compensation expense 8,599 2,488 2,994
Advertising and sponsorship expense (including $18,497 ,$—, and — from related parties) 65,544 7,357 554
General and administrative expense 59,608 43,824 8,370
Allowance for expected credit losses (569) 922 2,364
Cost of sales 31,278 17,538  
TOTAL EXPENSE 335,054 166,673 53,304
INCOME BEFORE INCOME TAX (191,050) (82,746) (58,047)
Income tax (expense)/benefit 27,872 15,258 2,794
INCOME FROM CONTINUING OPERATIONS $ (163,178) $ (67,488) $ (55,253)