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

LOANS ISSUED (Tables)

v3.26.1
LOANS ISSUED (Tables)
 12 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Schedule of accounts, notes, loans and financing receivable
Loans issued as of March 31, 2026, consisted of the following:
Amount Outstanding Due Dates Average Interest Rate Fair Value of
Collateral		 Loan Currency
 
Mortgage loans $ 1,149,000   April 2026 - May 2051 12.2% 1,148,860   KZT/TJS
Corporate loans 351,713   April 2026 - December 2040 18.0% 239,226   KZT
Loans to SME 195,495   April 2026 - November 2032 29.7% 28,141   KZT
Purchased retail loans 182,130   April 2026 - May 2031 22.6% —   KZT
Car loans 167,805   April 2026 - March 2033 25.4% 164,930   KZT
Retail loans 100,927   April 2026 - July 2045 42.0% 5,240   KZT
Other 32,335   April 2026 - May 2030
19.0%/5.2%/ 5.0%
 26  KZT/EUR/USD
Allowance for loans issued (101,799)
Total loans issued $ 2,077,606 
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
Loans to SME 244,217  April 2025 - February 2032 28.6% 35,141  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
Corporate loans 149,143  April 2025 - December 2031 19.1% 92,739  KZT
Retail loans 4,847  September 2025 - March 2045 21.2% 663  KZT
Other 7,838  April 2025 - September 2029
18.0%/12.7%/3.0%
 29 
KZT/EUR\USD/
Allowance for loans issued (75,115)
Total loans issued $ 1,595,435 
Schedule of 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, 2026.
Term Loans by Origination Year
2026 2025 2024 2023 2022 Prior Revolving loans Total
Mortgage loans $ 291,663  $ 307,056  $ 171,398  $ 352,105  $ 26,778  $ —  $ —  $ 1,149,000 
that are not credit impaired 290,224  302,323  168,147  348,614  26,374  —  —  1,135,682 
with significant increase in credit risk 1,245  2,710  1,860  1,875  243  —  —  7,933 
that are credit impaired 194  2,023  1,391  1,616  161  —  —  5,385 
Car loans 64,088  4,164  78,497  21,056  —  —  —  167,805 
that are not credit impaired 63,205  4,041  71,901  13,687  —  —  —  152,834 
with significant increase in credit risk 542  27  1,080  404  —  —  —  2,053 
that are credit impaired 341  96  5,516  6,965  —  —  —  12,918 
Loans to SME 52,758  59,627  72,382  10,728  —  —  —  195,495 
that are not credit impaired 49,372  53,303  60,112  8,363  —  —  —  171,150 
with significant increase in credit risk 1,392  2,258  3,192  506  —  —  —  7,348 
that are credit impaired 1,994  4,066  9,078  1,859  —  —  —  16,997 
Purchased retail loans 115,550  57,578  8,734  268  —  —  —  182,130 
that are not credit impaired 105,399  49,929  7,431  223  —  —  —  162,982 
with significant increase in credit risk 4,771  3,014  514  14  —  —  —  8,313 
that are credit impaired 5,380  4,635  789  31  —  —  —  10,835 
Corporate loans 310,024  41,594  95  —  —  —  —  351,713 
that are not credit impaired 308,278  41,050  95  —  —  —  —  349,423 
with significant increase in credit risk 647  —  —  —  —  —  —  647 
that are credit impaired 1,099  544  —  —  —  —  —  1,643 
Retail loans 97,334  2,853  708  32  —  —  —  100,927 
that are not credit impaired 95,717  2,409  470  30  —  —  —  98,626 
with significant increase in credit risk 1,064  93  20  —  —  —  —  1,177 
that are credit impaired 553  351  218  2  —  —  —  1,124 
Other 24,403  258  1,214  6,437  23  —  —  32,335 
that are not credit impaired 24,403  258  1,207  6,437  23  —  —  32,328 
with significant increase in credit risk —  —  —  —  —  —  —  — 
that are credit impaired —  —  7  —  —  —  —  7 
Total $ 955,820  $ 473,130  $ 333,028  $ 390,626  $ 26,801  $ —  $ —  $ 2,179,405 
The table below presents the Group's loan portfolio by credit quality classification as of March 31, 2025.
Term Loans by Origination Fiscal 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 
Loans to SME 98,556  126,835  18,826  —  —  —  —  244,217 
that are not credit impaired 96,338  109,461  15,647  —  —  —  —  221,446 
with significant increase in credit risk 1,185  3,612  663  —  —  —  —  5,460 
that are credit impaired 1,033  13,762  2,516  —  —  —  —  17,311 
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  837  —  —  —  —  2,440 
that are credit impaired —  3,985  7,056  —  —  —  —  11,041 
Corporate loans 148,599  470  74  —  —  —  —  149,143 
that are not credit impaired 146,785  470  74  —  —  —  —  147,329 
with significant increase in credit risk 1,813  —  —  —  —  —  —  1,813 
that are credit impaired 1  —  —  —  —  —  —  1 
Retail loans 3,774  1,066  7  —  —  —  —  4,847 
that are not credit impaired 3,682  887  5  —  —  —  —  4,574 
with significant increase in credit risk 34  18  —  —  —  —  —  52 
that are credit impaired 58  161  2  —  —  —  —  221 
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 
Schedule of financing receivable, past due
Aging analysis of past due loans as of March 31, 2026 and March 31, 2025, is as follows:
March 31, 2026
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 5,781  2,152  5,385  1,135,682  1,149,000 
Corporate loans 468  179  1,643  349,423  351,713 
Loans to SME 3,980  3,368  16,997  171,150  195,495 
Purchased retail loans
 4,348  3,965  10,835  162,982  182,130 
Car loans 1,423  630  12,918  152,834  167,805 
Retail loans 701  476  1,124  98,626  100,927 
Other —  —  7  32,328  32,335 
Total $ 16,701  $ 10,770  $ 48,909  $ 2,103,025  $ 2,179,405 
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 
Loans to SME 3,325  2,135  17,311  221,446  244,217 
Right of claim for purchased retail loans —  —  —  183,635  183,635 
Car loans 1,548  892  11,041  142,859  156,340 
Corporate loans 730  1,083  1  147,329  149,143 
Retail loans 36  16  221  4,574  4,847 
Other —  —  8  7,830  7,838 
Total $ 8,474  $ 4,804  $ 31,144  $ 1,626,128  $ 1,670,550 
Schedule of financing receivable, allowance for credit loss
The activity in the allowance for credit losses as of March 31, 2026 and March 31, 2025 is summarized in the following tables.
Allowance for credit losses
Mortgage loan Loans to SME Corporate loans Retail loans Car loans Purchased retail loans Other Total
March 31, 2025
 (10,699) (35,192) (2,640) (761) (8,465) (17,333) (25) $ (75,115)
Charges (7,515) (32,115) (6,348) (8,878) (8,238) (33,653) (50) (96,797)
Reversals 11,064  15,674  3,793  3,544  3,442  22,242  —  59,759 
Write off 40  14,897  —  —  253  —  —  15,190 
Modification —  —  —  —  —  908  —  908 
Forex (278) (2,016) (352) (478) (828) (1,792) —  (5,744)
March 31, 2026
 $ (7,388) $ (38,752) $ (5,547) $ (6,573) $ (13,836) $ (29,628) $ (75) $ (101,799)
Allowance for credit losses
Mortgage loan Loans to SME Corporate loans Retail loans Car loans Right of claim for purchased retail loans Other Total
March 31, 2024
 (3,033) (19,556) (10) (150) (14,262) (6,577) (31) $ (43,619)
Charges (10,043) (38,653) (4,191) (754) (5,335) (20,324) (24) (79,324)
Reversals 1,694  6,757  1,449  96  6,761  8,331  —  25,088 
Write off 1  13,276  —  4  2,914  —  30  16,225 
Forex 682  2,984  112  43  1,457  1,237  —  6,515 
March 31, 2025
 $ (10,699) $ (35,192) $ (2,640) $ (761) $ (8,465) $ (17,333) $ (25) $ (75,115)