REG - ASA Intnl. Grp PLC - Q1 2025 Business Update
24/04/2025 07:02
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RNS Number : 9370F ASA International Group PLC 24 April 2025
ASA International Group plc - Q1 2025 Business Update
ASA International Group plc (LSE: ASAI), one of the world's largest
international microfinance institutions, today provides the following update
on its business operations for the three-month period ended 31 March 2025.
Highlights
· ASA International recorded a robust start to 2025, continuing the
strong performance seen in 2024
· Gross OLP increased to USD 465m - 1% higher than at the end of Q4
2024 and 22% higher than at the end of the same period in 2024
· PAR>30 for the Group, including off-book loans and excluding loans
overdue for more than 365 days, remained stable at 2.2% as at 31 March 2025
(31 December 2024: 2.2%)
· Myanmar was struck by a 7.7 magnitude earthquake on 28 March 2025
which affected six regions and states and led to significant casualties.
Aftershocks may also persist for the next two to three months and the country
as a whole continues to experience issues relating to water supply,
electricity and communication services. The direct impact of the earthquake on
ASA Myanmar was limited from a client and employee perspective as well as from
an office and branch infrastructure standpoint. ASA Myanmar is currently not
facing any loan collection or portfolio quality issues as there are no ASA
branches in the affected areas but this situation will continue to be closely
monitored
· ASA International was delighted to welcome Grace Thiongo who joined
in March as Chief Risk and Compliance Officer and a member of the Executive
Committee. In addition, local leadership has been further strengthened by the
appointment of a new CEO in Zambia as well as CFOs in Ghana and Uganda
Business Operations Update
Clients (in thousands) Delta Number of branches Delta
End of period Mar-24 Dec-24 Mar-25 Mar 24 - Mar 25 Dec 24- Mar 25 Mar-24 Dec-24 Mar-25 Mar 24 - Mar 25 Dec 24- Mar 25
Pakistan 621 662 671 8% 1% 345 380 397 15% 4%
India (total) 187 172 192 3% 12% 174 175 158 (9%) (10%)
Sri Lanka 43 44 49 14% 10% 64 63 63 (2%) 0%
South Asia 851 878 912 7% 4% 583 618 618 6% 0%
The Philippines 341 353 377 11% 7% 393 400 424 8% 6%
Myanmar 117 122 130 11% 6% 88 89 91 3% 2%
Southeast Asia 457 475 507 11% 7% 481 489 515 7% 5%
Ghana 189 223 227 20% 2% 143 153 153 7% 0%
Nigeria 165 150 167 1% 11% 263 269 269 2% 0%
Sierra Leone 38 43 49 30% 13% 46 49 49 7% 0%
West Africa 392 416 443 13% 6% 452 471 471 4% 0%
Tanzania 253 280 293 16% 5% 208 221 231 11% 5%
Kenya 215 262 265 23% 1% 141 145 154 9% 6%
Uganda 125 150 164 32% 10% 124 125 134 8% 7%
Rwanda 20 23 24 18% 5% 37 37 37 0% 0%
Zambia 26 29 29 10% 0% 34 39 39 15% 0%
East Africa 639 744 775 21% 4% 544 567 595 9% 5%
Group 2,339 2,513 2,637 13% 5% 2,060 2,145 2,199 7% 3%
· Total number of clients across all regions increased to 2.6m, 5%
higher than at the end of Q4 2024 and 13% higher than at 31 March 2024. This
growth was primarily driven by increased client numbers in Philippines,
Nigeria, Tanzania, Kenya and Uganda
Gross OLP (in USDm) Delta PAR>30
End of period Mar-24 Dec-24 Mar-25 Mar 24 - Mar 25 (USD) Mar 24- Mar 25 (CC) Dec 24- Mar 25 (USD)
Mar-24 Dec-24 Mar-25
Pakistan 72.2 90.0 93.2 29% 30% 4% 0.3% 0.5% 0.4%
India (total) 49.8 40.5 34.5 (31%) (29%) (15%) 3.1% 5.4% 6.0%
Sri Lanka 4.8 5.4 5.6 16% 15% 4% 4.9% 4.9% 4.4%
South Asia 126.9 135.8 133.4 5% 6% (2%) 1.7% 2.1% 2.0%
The Philippines 57.5 60.4 62.8 9% 11% 4% 3.8% 6.8% 7.1%
Myanmar 22.9 27.3 29.2 27% 27% 7% 0.2% 0.3% 0.2%
Southeast Asia 80.4 87.6 92.0 14% 16% 5% 2.8% 4.8% 4.9%
Ghana 45.5 67.7 70.3 54% 80% 4% 0.2% 0.2% 0.2%
Nigeria 9.2 11.8 12.9 40% 54% 10% 12.9% 4.9% 3.6%
Sierra Leone 5.4 6.7 6.6 23% 23% (2%) 4.2% 9.4% 10.3%
West Africa 60.1 86.2 89.8 49% 71% 4% 2.5% 1.5% 1.4%
Tanzania 65.5 85.4 82.3 26% 29% (4%) 1.2% 1.3% 1.5%
Kenya 28.6 36.4 38.3 34% 31% 5% 0.3% 0.3% 0.3%
Uganda 13.1 18.6 20.4 56% 47% 10% 0.7% 0.2% 0.1%
Rwanda 3.9 5.2 5.5 41% 56% 6% 7.8% 5.1% 4.8%
Zambia 3.0 3.3 3.4 14% 29% 5% 2.6% 3.4% 3.5%
East Africa 114.1 148.9 149.9 31% 32% 1% 1.1% 1.1% 1.2%
Group 381.5 458.6 465.1 22% 26% 1% 1.7% 2.2% 2.2%
· Gross OLP increased to USD 465m - 1% higher than at the end of Q4
2024 and 22% higher than at 31 March 2024. This growth was predominantly
driven by Pakistan, Ghana, Nigeria, Tanzania and Uganda
· PAR>30 for the Group, including off-book loans and excluding loans
overdue for more than 365 days, remained stable at 2.2% at the end of Q1 2025.
This was primarily due to better portfolio quality in Nigeria, Rwanda, Sri
Lanka. Outstanding portfolio quality was recorded in Pakistan, Ghana, Kenya,
Uganda and Myanmar with PAR>30 less than 0.5% as at 31 March 2025
Notes
(1) Constant currency ('CC') implies conversion of local currency results to
USD with the exchange rate from the end of March 2024.
(2) PAR refers to 'Portfolio at Risk'. PAR>30 is the percentage of
outstanding customer loans with at least one instalment payment overdue 30
days, excluding loans more than 365 days overdue, to Gross OLP including
off-book loans. Loans overdue more than 365 days now comprise 0.8% of the
Gross OLP.
(3) 'ASA International', the 'Company', the 'Group' all refer to ASA
International Group plc and its subsidiaries.
Enquiries
ASA International Group plc
Investor Relations
Jonathan Berger
ir@asa-international.com (mailto:ir@asa-international.com)
About ASA International Group plc
ASA International Group plc (LSE: ASAI) is one of the world's largest
international microfinance institutions, with a strong commitment to financial
inclusion and socioeconomic progress. The company provides small, socially
responsible loans to low-income, financially underserved entrepreneurs,
predominantly women, across South Asia, South East Asia, West and East Africa.
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