Financial Statements of Raison Securities for 2025

Raison Securities Limited — a licensed broker-dealer of the Raison Group in the jurisdiction of the Astana International Financial Centre (AIFC) — has published its audited financial statements for 2025. The audit was conducted by the independent firm Russell Bedford, which issued an unmodified opinion: the financial statements fairly present the company’s financial position in accordance with IFRS.

These statements cover only the Kazakhstan-regulated entity of the Group and do not reflect the consolidated performance of RaisoIFRS n’s overall business. Taking into account other group entities, total client assets under Raison’s management amount to $350 million. The publication of financial statements is a mandatory requirement of the AIFC regulator and demonstrates the Group’s commitment to transparency and corporate governance standards.

Operating Performance

At year-end, the company recorded multiple-fold growth across all key metrics. Fee income increased nearly fivefold to $2.0 million, compared to $0.4 million a year earlier. The main revenue drivers were advisory services ($1.886 million) and brokerage operations ($132 thousand). Net fee income reached $1.878 million.

Profitability

For the first time since inception, the company achieved устойчивый прибыльный уровень: net profit for 2025 totaled $1.04 million, compared to a loss of $132 thousand in 2024. The significant improvement in financial performance was driven by growth in the client base and the scaling of brokerage and advisory services.

Balance Sheet and Liquidity

The company’s assets increased more than fourfold to $1.765 million (2024: $0.43 million). Equity rose to $1.37 million, while cash balances reached $980 thousand, reflecting strengthened financial stability and liquidity.

Client Assets and Team

Client assets under administration at Raison Securities showed strong growth: by the end of 2025, total client cash and securities held in accounts reached $37.6 million, up from $11.0 million a year earlier — more than a threefold increase. In parallel, the company continued investing in team expansion: personnel expenses grew from $249 thousand to $568 thousand, reflecting a significant increase in headcount.

Regulatory Compliance

The auditor confirmed the company’s compliance with all AIFC prudential requirements and the absence of material violations or risks that could affect its going concern status.

Raison Securities continues to develop its brokerage and investment services infrastructure within the AIFC jurisdiction, steadily strengthening its market position and demonstrating consistent growth.