Business
December 2022 Quarterly Business Update
December 2022 Quarterly Business Update.
About this update from Asa International Group Plc
[{"type":"text","content":"\n \n \n Press Release\n \n \n \n \n \n \n \n \n ASA International Group plc December 2022 quarterly business update\n \n \n \n \n \n \n Amsterdam, The Netherlands, 24 February 2023 - ASA International, ('ASA International', the 'Company' or the 'Group'), one of the world's largest international microfinance institutions, today provides the following update\n on its business operations as at 31 December 2022 compared to 31 October 2022.\n \n \n · \n With the exception of India, all other operating subsidiaries achieved collection efficiency of more than 90% with 9 countries achieving more than 95%.\n \n \n · \n India collections improved from 83% in October to 87% in December. Collection efficiency, including regular and overdue collections as well as advance payments, as a percentage of the regular, realisable collections, including advance payments, increased from 98% in October to 118% in December.\n \n \n · \n PAR>30 for the Group, including off-book loans and excluding loans overdue more than 365 days, decreased from 6.7% in October to 5.9% in December, primarily due to improved portfolio quality and write-offs of overdue loans in Myanmar.\n \n \n · \n The PAR>30 for the Group's operating subsidiaries, excluding India and Myanmar, remained stable at 1.9%.\n \n \n · \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 from 4.3% in October to 4.0% in December.\n \n \n · \n Disbursements as percentage of collections exceeded 100% in 4 countries.\n The drop in most countries for December was primarily due to operations closing for 6-12 days to observe the Christmas holidays. The lower percentage in India was due to the ongoing strategic decision to reduce disbursements.\n \n \n · \n The\n Group's\n Gross OLP increased to USD 367 million (3% higher\n than in October\n 2022\n and 15% lower than in December 2021), primarily due to OLP growth in local currency in most markets and currency appreciation in Ghana.\n \n \n · \n There were no moratoriums granted to clients in November and December 2022.\n \n \n \n \n \n \n \n \n \n Collection efficiency until 31 December 2022\n \n \n (1)\n \n \n \n \n \n \n \n \n \n Countries\n \n \n \n \n \n \n Jul/22\n \n \n \n \n \n \n...