| 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, 2026 for the Company and each of subsidiaries that are regulated entities that is material for our 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 Holding Corp. |
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Kazakhstan bank holding company |
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$ |
1,535,276 |
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$ |
200,000 |
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$ |
1,335,276 |
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$ |
1,263,160 |
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| Freedom EU |
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Brokerage |
|
686,621 |
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|
19,029 |
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|
667,592 |
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|
760,863 |
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| Freedom Bank KZ |
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Bank |
|
524,068 |
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|
250,005 |
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|
274,063 |
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|
292,571 |
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| Freedom Global |
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Brokerage |
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175,910 |
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|
42,555 |
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|
133,355 |
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|
194,760 |
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| Freedom Armenia ("Freedom AR") |
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Brokerage |
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112,982 |
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|
818 |
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|
112,164 |
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|
112,737 |
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| Freedom Life |
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Life Insurance |
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74,340 |
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|
13,495 |
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|
60,845 |
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|
89,798 |
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| Freedom KZ |
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Brokerage |
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71,667 |
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|
450 |
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|
71,218 |
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|
142,663 |
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| Freedom Insurance |
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Property and Casualty Insurance |
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62,671 |
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13,495 |
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|
49,175 |
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|
44,701 |
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| Other regulated operating subsidiaries |
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Other |
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30,683 |
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|
2,063 |
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28,620 |
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(60,041) |
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$ |
3,274,219
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$ |
541,911
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$ |
2,732,308
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$ |
2,841,211
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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, 2026 for each of our subsidiaries that are regulated entities that is material for our consolidated financial statements.
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| (amounts in thousands) |
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Regulated activities |
|
Net Capital/Eligible Equity |
|
Required Minimum capital/solvency |
|
Excess regulatory capital |
|
Retained earnings |
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Freedom Holding Corp. |
|
Kazakhstan bank holding company |
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$ |
1,489,279 |
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$ |
200,000 |
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$ |
1,289,279 |
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$ |
1,231,500 |
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| Freedom EU |
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Brokerage |
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686,750 |
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|
19,509 |
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|
667,241 |
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|
522,253 |
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Freedom Bank KZ |
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Bank |
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518,891 |
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|
231,143 |
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|
287,747 |
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|
286,195 |
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| Freedom Global |
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Brokerage |
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139,906 |
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|
37,068 |
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|
102,838 |
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|
163,820 |
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| Freedom Life |
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Life Insurance |
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117,074 |
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|
13,550 |
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|
103,524 |
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|
107,131 |
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Freedom Armenia ("Freedom AR") |
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Brokerage |
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95,550 |
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|
797 |
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|
94,753 |
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|
96,377 |
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| Freedom KZ |
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Brokerage |
|
73,931 |
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|
452 |
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|
73,480 |
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|
141,684 |
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| Freedom Insurance |
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Property and Casualty Insurance |
|
59,373 |
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|
13,550 |
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|
45,822 |
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|
34,432 |
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| Other regulated operating subsidiaries |
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Other |
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25,568 |
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|
2,085 |
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23,483 |
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(53,207) |
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$ |
3,206,322
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$ |
518,154
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$ |
2,688,167
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$ |
2,530,185
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