Business
H1 2023 results
H1 2023 results.
About this update from Asa International Group Plc
[{"type":"text","content":"\n\n \n \n \nPress release\nASA International Group plc reports H1 2023 results\n \nAmsterdam, The Netherlands, 20 September 2023 - ASA International Group plc ('ASA International', the 'Company' or the 'Group'), one of the world's largest international microfinance institutions, today announces its half-year unaudited results for the six-month period from 1 January to 30 June 2023 (the 'Period').\nKey performance indicators\n\n\n\n\n(UNAUDITED)\n(Amounts in USD millions)\n\n\nH1 2023\n\n\nFY2022\n\n\nH1 2022\n\n\nFY2021\n\n\nYoY\n% Change\n\n\nYTD\n% Change\n\n\nYTD % Change\n(constant currency)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNumber of clients (m)\n\n\n2.2\n\n\n2.3\n\n\n2.4\n\n\n2.4\n\n\n-7%\n\n\n-3%\n\n\n \n\n\n\n\nNumber of branches\n\n\n2,073\n\n\n2,028\n\n\n2,129\n\n\n2,044\n\n\n-3%\n\n\n2%\n\n\n \n\n\n\n\nProfit before tax\n\n\n13.8\n\n\n46.3\n\n\n23.8\n\n\n25.7\n\n\n-42%\n\n\n-40%\n\n\n-31%\n\n\n\n\nNet profit\n\n\n3.7\n\n\n17.9\n\n\n13.1\n\n\n6.4\n\n\n-72%\n\n\n-59%\n\n\n-45%\n\n\n\n\nOLP(1)\n\n\n334.4\n\n\n351.2\n\n\n378.4\n\n\n403.7\n\n\n-12%\n\n\n-5%\n\n\n6%\n\n\n\n\nGross OLP\n\n\n346.8\n\n\n367.5\n\n\n399.0\n\n\n430.7\n\n\n-13%\n\n\n-6%\n\n\n5%\n\n\n\n\nPAR > 30 days(2)\n\n\n3.8%\n\n\n5.9%\n\n\n5.1%\n\n\n5.2%\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(1) Outstanding loan portfolio ('OLP') includes off-book Business Correspondence ('BC') loans and Direct Assignment loans, and loans valued at fair value through the P&L (\"FVTPL\"), excludes interest receivable, unamortised loan processing fees, and deducts ECL reserves from Gross OLP.\n\n\n\n\n(2) PAR>30 is the percentage of on-book OLP that has one or more instalment of repayment of principal past due for more than 30 days and less than 365 days, divided by the Gross OLP.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \nH1 2023 highlights\n· The Company's operational performance in constant currency terms improved compared to the end of 2022, with OLP growing by 6% in constant currency terms.\n· Operational and financial results decreased in USD terms, with profit before tax decreasing to USD 13.8 million in H1 2023 from USD 23.8 million in H1 2022.\n· The decline in profits was primarily due to (i...