ASA International Group (ASAI) H2 2024 & Q1 2025 TU earnings summary

Executive summary

• Net profit surged 226% year-over-year to USD 28.5m, with comprehensive income at USD 22.1m, marking a return to sustainable growth and reversing a prior year loss.

• Outstanding loan portfolio (OLP) grew 21% to USD 446.6m, with client base expanding 8% to surpass 2.5 million by year-end and reaching 2.6 million by March 2025.

• New leadership and management structure implemented, strengthening executive and local management layers in key markets.

• Dividend payments resumed, with a total dividend of USD 0.071 per share for 2024 and a 25% payout ratio.

• Operational resilience maintained despite economic and FX headwinds, with portfolio quality stable at PAR > 30 days of 2.2%.

Financial highlights

• Total operating income rose 27% to USD 187.7m, driven by OLP growth and higher-yielding markets.

• Net interest income increased 23% to USD 170.4m; profit before tax nearly doubled to USD 63.5m.

• Cost-to-income ratio improved to 61.4% from 72.1% in 2023.

• Total assets reached USD 568.5m, up 16%; total equity increased 26% to USD 96.5m.

• Gross yield rose to 44.2%, and net interest margin (NIM) improved to 35.2%.

Outlook and guidance

• OLP growth of approximately 20% expected for FY 2025, with cost-to-income ratio projected in the mid-60s due to digital transformation investments.

• Continued strong client demand and efficiency gains anticipated to drive robust financial performance.

• Currency movements, inflation, and FX volatility remain key factors affecting future results.