Business
August 2023 Business Update
August 2023 Business Update.
About this update from Asa International Group Plc
[{"type":"text","content":"\n\nPress Release\n \nASA International Group plc August 2023 business update\n \nAmsterdam, The Netherlands, 20 September 2023 - ASA International, ('ASA International', the 'Company' or the 'Group'), one of the world's largest international microfinance institutions, today provides the following update on its business operations as of 31 August 2023.\n· The Group's Gross OLP increased to USD 352 million (1% higher than in May 2023 and 5% lower than in August 2022), primarily due to increased disbursements in India, Ghana and Kenya.\n· All operating subsidiaries except India, achieved collection efficiency of more than 90% with 11 countries achieving more than 95%.\n· Collection efficiency in Nigeria improved from May 2023 to August 2023, following the end of demonetization and the national election cycle.\n· India collections remained stable at 85% in August 2023 compared to May 2023. Collection efficiency, including regular and overdue collections as well as advance payments, as a percentage of the regular, realisable collections, including advance payments, decreased from 97% in May 2023 to 92% in August 2023.\n· PAR>30 for the Group, including off-book loans and excluding loans overdue more than 365 days, decreased to 3.6% in August 2023 from 4.2% in May 2023, primarily due to improving portfolio quality in Nigeria and Myanmar.\n· The PAR>30 for the Group's operating subsidiaries, excluding India and Nigeria, decreased to 1.1% in August 2023 from 1.3% in May 2023.\n· Excluding all loans which have been overdue for more than 180 days and, as a result, have been fully provided for, PAR>30 improved to 1.3% in August 2023 from 2.5% in May 2023.\n· Disbursements as a percentage of collections exceeded 100% in 11 countries. The improved percentage in India was due to additional growth of the BC portfolio following new BC partnership agreements.\n\nCollection efficiency until 31 August 2023(1) \n\n\n\n\nCountries\n\n\nMar/23\n\n\nApr/23\n\n\nMay/23\n\n\nJun/23\n\n\nJul/23\n\n\nAug/23\n\n\n \n\n\n\n\nPakistan\n\n\n99%\n\n\n99%\n\n\n100%\n\n\n100%\n\n\n100%\n\n\n100%\n\n\n \n\n\n\n\nIndia (total)\n\n\n86%\n\n\n88%\n\n\n86%\n\n\n85%\n\n\n87%\n\n\n85%\n\n\n \n\n\n\n\nSri Lanka\n\n\n95%\n\n\n95...