REG - ASA Intnl. Grp PLC - Q2 2025 Business Update
Tue 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250722:nRSV9510Ra&default-theme=true
RNS Number : 9510R ASA International Group PLC 22 July 2025
ASA International Group plc - Q2 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 30 June 2025.
Highlights
· Strong Operational Performance
ASA International delivered robust operational results in Q2 2025, building on
the positive momentum achieved throughout 2024 and into 2025
· Significant Loan Portfolio Growth
Gross Outstanding Loan Portfolio (OLP) increased to USD 539.5m as at 30 June
2025 - up 16% from Q1 2025 (USD 465.2m) and 37% from the same period in 2024
(USD 394.9m). This growth was driven primarily by Ghana, where Gross OLP rose
by USD 59m during Q2 2025, reflecting both strong underlying portfolio
expansion and a 33% appreciation of the Ghanaian cedi. Additional notable
contributions came from Uganda, Tanzania, Nigeria, and Myanmar
· Improved Loan Portfolio Quality
The quality of the loan portfolio continued to strengthen. Group PAR>30
(including off-book loans and excluding loans overdue by more than 365 days)
improved significantly to 1.5% as at 30 June 2025 (31 March 2025: 2.2%)
· Launch of Enhanced Credit Life Insurance
ASA International partnered with Turaco to launch a groundbreaking Enhanced
Credit Life insurance product. Following a successful soft launch of 'ASA
LifeCare' in Uganda on 12 May, the product has now officially rolled out in
the country and is also launching in Kenya under the name 'Maisha Care by
ASA', with plans to expand across ASA International's six other African
markets. The partnership embeds Enhanced Credit Life into ASA International's
loan products, providing affordable protection for clients from just USD 0.30
per month, covering credit, life, and health-related risks. This offering is
expected to bolster client retention and generate additional non-interest
income
· Leadership Strengthening
In June, Steven van Zuylen was promoted to Chief Technology Officer and joined
the Executive Committee. ASA International also welcomed Sivan Maron as Chief
Human Resources Officer and member of the Executive Committee. Local
leadership has been further reinforced with the appointments of new CEOs in
Sri Lanka and Pakistan, as well as a new CFO in Nigeria
Business Operations Update
Clients (in thousands) Delta Number of branches Delta
End of period Jun-24 Mar-25 Jun-25 Jun 24 - Jun 25 Mar 25 - Jun 25 Jun-24 Mar-25 Jun-25 Jun 24 - Jun 25 Mar 25 - Jun 25
Pakistan 618 671 673 9% 0% 345 397 405 17% 2%
India (total) 193 154 129 -33% -16% 176 159 157 -11% -1%
Sri Lanka 42 44 45 6% 1% 64 63 63 -2% 0%
South Asia 854 869 847 -1% -2% 585 619 625 7% 1%
The Philippines 352 360 352 0% -2% 400 424 433 8% 2%
Myanmar 119 125 128 8% 2% 89 91 91 2% 0%
Southeast Asia 471 485 481 2% -1% 489 515 524 7% 2%
Ghana 192 227 237 23% 4% 150 153 153 2% 0%
Nigeria 146 153 158 8% 3% 263 269 270 3% 0%
Sierra Leone 37 43 43 15% 0% 48 49 49 2% 0%
West Africa 376 423 437 16% 3% 461 471 472 2% 0%
Tanzania 258 291 301 17% 3% 211 231 241 14% 4%
Kenya 238 264 279 18% 6% 145 153 160 10% 5%
Uganda 131 159 179 36% 12% 125 133 135 8% 2%
Rwanda 21 23 24 16% 4% 37 37 37 0% 0%
Zambia 27 29 30 13% 6% 38 39 41 8% 5%
East Africa 675 767 814 21% 6% 556 593 614 10% 4%
Group 2,375 2,544 2,579 9% 1% 2,091 2,198 2,235 7% 2%
· Total number of clients across all regions increased to 2.6m at the
end of Q2 2025, 1% higher than at the end of Q1 2025 and 9% higher than at 30
June 2024. This growth was primarily driven by increased client numbers in
Uganda, Kenya, Ghana, Tanzania and Nigeria. The deliberate shrinkage of the
business in India has naturally led to reduced client numbers which offset the
strong growth seen in almost all other countries
· The work to divest ASA India continues as planned with the Board
currently working towards a full deconsolidation from the Group by the end of
December 2025
Gross OLP (in USDm) Delta PAR>30
End of period Jun-24 Mar-25 Jun-25 Jun 24 - Jun 25 (USD) Jun 24 - Jun 25 (CC) Mar 25 - Jun 25 (USD) Mar 25 - Jun 25 (CC) Jun-24 Mar-25 Jun-25
Pakistan 76.0 93.2 94.3 24% 27% 1% 3% 0.6% 0.4% 0.5%
India (total) 51.0 34.5 30.8 -40% -38% -11% -11% 5.7% 6.0% 5.9%
Sri Lanka 4.7 5.6 5.9 25% 22% 4% 6% 4.9% 4.4% 4.5%
South Asia 131.7 133.4 130.9 -1% 1% -2% -1% 2.8% 2.0% 1.9%
The Philippines 57.8 62.8 63.3 10% 6% 1% -1% 3.8% 7.1% 3.4%
Myanmar 20.2 29.2 31.6 57% 32% 8% 8% 0.3% 0.2% 0.2%
Southeast Asia 77.9 92.0 94.9 22% 13% 3% 2% 2.9% 4.9% 2.3%
Ghana 47.7 70.5 129.5 171% 84% 84% 23% 0.2% 0.2% 0.2%
Nigeria 8.9 12.9 15.4 73% 74% 20% 20% 9.0% 3.6% 2.6%
Sierra Leone 5.4 6.6 7.4 37% 39% 12% 11% 5.7% 10.3% 9.5%
West Africa 62.0 90.0 152.3 146% 79% 69% 22% 2.0% 1.4% 0.9%
Tanzania 68.5 82.3 86.0 26% 26% 4% 4% 1.3% 1.5% 1.6%
Kenya 32.4 38.3 39.8 23% 23% 4% 4% 0.3% 0.3% 0.3%
Uganda 14.7 20.4 24.9 70% 64% 22% 20% 0.7% 0.1% 0.2%
Rwanda 4.4 5.5 6.4 46% 60% 15% 17% 6.9% 4.8% 4.8%
Zambia 3.4 3.4 4.4 29% 28% 28% 8% 3.2% 3.5% 3.2%
East Africa 123.3 149.9 161.4 31% 31% 8% 7% 1.2% 1.2% 1.3%
Group 394.9 465.2 539.5 37% 25% 16% 7% 2.2% 2.2% 1.5%
· Gross OLP increased to USD 539.5m - 16% higher than at the end of Q1
2025 and 37% higher than at 30 June 2024. This growth was predominantly driven
by Ghana's Gross OLP increasing by USD 59m in Q2 2025 reflecting both
underlying portfolio growth as well as the 33% appreciation of the Ghanaian
cedi in the quarter. There were further significant contributions from Uganda,
Tanzania, Nigeria, and Myanmar
· PAR>30 for the Group, including off-book loans and excluding loans
overdue for more than 365 days, improved to 1.5% at the end of Q2 2025. This
was primarily due to better portfolio quality in Philippines, Nigeria, Sierra
Leone. Outstanding portfolio quality was recorded in Ghana, Kenya, Uganda and
Myanmar with PAR>30 less than 0.5% as at 30 June 2025
Rob Keijsers, ASA International CEO, said:
"ASA International's outstanding performance in the second quarter of 2025 is
a testament to the dedication of our teams and the trust and resilience of our
clients across our operating markets. Our strong operational growth, reflected
by the significant increase in OLP and sustained improvements in portfolio
quality, demonstrates our ability to deliver meaningful financial services to
underserved female entrepreneurs. We are proud of our innovative partnership
with Turaco, launching the Enhanced Credit Life insurance product that brings
added value and protection to our clients as we seek to deepen and broaden
financial inclusion. As we continue to expand our reach and strengthen our
leadership, we remain committed to delivering increased financial inclusion
for the communities we serve and sustainable growth for all stakeholders."
Notes
(1) All data in this announcement is unaudited
(2) Constant currency ('CC') implies conversion of local currency results to
USD with the exchange rate from the end of June 2024 and March 2025.
(3) 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.
(4) '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.
Disclaimer
This announcement does not constitute or form part of any offer or invitation
to purchase, otherwise acquire, issue, subscribe for, sell or otherwise
dispose of any securities, nor any solicitation of any offer to purchase,
otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any
securities. The release, publication or distribution of this announcement in
certain jurisdictions may be restricted by law and therefore persons in such
jurisdictions into which this announcement is released, published or
distributed should inform themselves about and observe such restriction.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END TSTUARKRVBUBUARRecent news on ASA International
See all newsREG - ASA Intnl. Grp PLC - Director/PDMR Shareholding
AnnouncementREG - ASA Intnl. Grp PLC - Q2 2025 Business Update
AnnouncementREG - ASA Intnl. Grp PLC - Result of AGM
AnnouncementREG - ASA Intnl. Grp PLC - Directorate Change
AnnouncementREG - ASA Intnl. Grp PLC - Notice of Annual General Meeting
Announcement