Business
May 2022 Business Update
May 2022 Business Update.
About this update from Asa International Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n ASA International Group plc May 2022 business update\n \n \n \n Amsterdam, The Netherlands, 16 June 2022 - 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 May 2022.\n \n \n · \n Liquidity remains high with approximately USD 103m of unrestricted cash and cash equivalents across the Group.\n \n \n · \n The pipeline of funding deals under negotiation totalled approximately USD 203m. \n \n \n · \n With the exception of India and Myanmar, all other operating subsidiaries continued to achieve collection efficiency of more than 90% with 10 countries achieving more than 95%.\n \n \n · \n India collections remained at 83%. Collection efficiency, excluding instalments due from clients receiving the one-time loan restructuring offered by the Reserve Bank of India ('RBI'), however decreased from 111% to 109%.\n \n \n · \n T\n he\n benchmark PAR>30 for the Group, including off-book loans and excluding loans overdue more than 365 days, slightly improved from 6.3% to 6.0%.\n \n \n · \n The PAR>30 for the Group's operating subsidiaries, excluding India and Myanmar, remained 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 slightly decreased from 4.4% to 4.2%.\n \n \n · \n Disbursements as percentage of collections exceeded 100% in\n 10\n countries. The decreasing percentage in Sri Lanka was primarily due to the political unrest.\n \n \n · \n With the number of clients broadly stable at 2.4m, the strategic reduction of disbursements in India and Sri Lanka and\n currency depreciation versus USD across almost all markets, particularly in Pakistan (7% depreciation in May),\n the\n Gross OLP decreased to USD 414m (1.1% lower\n than in April\n 2022\n and 12% lower than in May 2021).\n \n \n · \n Gross OLP for the Group in constant currency was at the same level as May 2021 at USD 473m. Gross OLP in constant currency, excluding India, was USD 320m (23% higher than in May 2021).\n \n \n · \n The moratorium amount decreased from USD 19.8m to USD 18.4\n m, and is composed of the restructured loans ...