• Freedom Holding average return on tangible equity for 2023 was 36.2, a 34.77% decline from 2022.
• Freedom Holding average return on tangible equity for 2022 was 26.86, a 69.43% increase from 2021.
• Freedom Holding average return on tangible equity for 2021 was 87.85, a 141.28% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.