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
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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