ASA International Group (ASAI) Trading Update summary

Financial performance and profitability

• Net profit for 2024 expected to reach approximately USD 24m, nearly triple the 2023 figure of USD 8.8m, despite hyperinflation accounting impacts in Ghana and Sierra Leone.

• Gross outstanding loan portfolio (OLP) grew 22% year-on-year to USD 458m, with strong contributions from Pakistan, Ghana, Kenya, Tanzania, and Uganda.

• Dividend policy resumed with an interim dividend of USD 0.03 per share; final dividend to be announced with FY24 results.

Operational highlights and client growth

• Total client base increased to 2.5 million, up 3% from Q3 2024 and 8% year-on-year, led by growth in Pakistan, Ghana, Tanzania, Kenya, and Uganda.

• Number of branches rose to 2,151, a 7% increase from the previous year.

• New local CEOs appointed in Uganda, Rwanda, and Nigeria, bringing fresh perspectives and leadership.

Portfolio quality and risk management

• Portfolio at risk over 30 days (PAR > 30) improved slightly to 2.2% at year-end, with outstanding quality in Pakistan, Ghana, Kenya, Uganda, and Myanmar (PAR > 30 less than 0.5%).

• Nigeria, Rwanda, and Sri Lanka contributed to the improvement in overall portfolio quality.