v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Revenue:    
Fee and commission income (including $866 and $15,896 from related parties) $ 115,489 $ 98,703
Net (loss)/gain on trading securities (52,102) 31,816
Interest income (including $270 and $5,352 from related parties) 226,004 149,349
Insurance underwriting income 129,408 44,889
Net gain on foreign exchange operations 8,089 19,301
Net gain/(loss) on derivative 12,494 (30,605)
Other income 11,333 2,757
TOTAL REVENUE, NET 450,715 316,210
Expense:    
Fee and commission expense (including $157 and $99 from related parties) 80,147 28,684
Interest expense (including $381 and $168 from related parties) 145,718 95,046
Insurance claims incurred, net of reinsurance 47,309 21,514
Payroll and bonuses 57,524 31,630
Professional services 7,268 6,625
Stock compensation expense 10,615 1,233
Advertising expense 17,201 8,100
General and administrative expense (including $2,725 and $478 from related parties) 45,105 24,475
(Recovery of)/provision for allowance for expected credit losses (1,770) 14,326
TOTAL EXPENSE 409,117 231,633
INCOME BEFORE INCOME TAX 41,598 84,577
Income tax expense (7,339) (16,656)
NET INCOME 34,259 67,921
Less: Net loss attributable to non-controlling interest in subsidiary (141) (181)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 34,400 68,102
OTHER COMPREHENSIVE INCOME    
Change in unrealized gain on investments available-for-sale, net of tax effect 3,374 2,239
Reclassification adjustment for net realized loss on available-for-sale investments disposed of in the period, net of tax effect (18) (958)
Foreign currency translation adjustments (65,811) (1,760)
OTHER COMPREHENSIVE LOSS (62,455) (479)
COMPREHENSIVE (LOSS)/INCOME BEFORE NON-CONTROLLING INTERESTS (28,196) 67,442
Less: Comprehensive loss attributable to non-controlling interest in subsidiary (141) (181)
COMPREHENSIVE (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (28,055) $ 67,623
EARNINGS PER COMMON SHARE (In U.S. dollars):    
Earnings per common share-basic (in USD per share) $ 0.58 $ 1.16
Earnings per common share- diluted (in USD per share) $ 0.57 $ 1.15
Weighted average number of shares, basic (in shares) 59,258,085,000 58,512,215,000
Weighted average number of shares, diluted (in shares) 60,255,593,000 59,293,691,000

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