Business
Q1 2019 Trading Update
Q1 2019 Trading Update.
About this update from Asa International Group Plc
[{"type":"text","content":"\n \nRNS Number : 1724Z ASA International Group PLC 16 May 2019 \n\n16 May 2019\nASA International Group plc\nQ1 2019 Trading Update\nASA International Group plc, one of the world's largest international microfinance institutions, today announces a trading update for the first quarter period from 1 January 2019 to 31 March 2019 (\"the Period\").\nKey highlights:\n\n\n\n\n \n\n\n1Q\n2019\n\n\nFY\n2018\n\n\n1Q\n2018\n\n\nYoY\n\n\n1Q\n2019\n \n\n\nYoY % Change\n(constant currency)\n\n\n\n\nNumber of Clients (m)\n\n\n2.2\n\n\n2.2\n\n\n1.9\n\n\n14%\n\n\n2%\n\n\nn/a\n\n\n\n\nNumber of Branches\n\n\n1,745\n\n\n1,665\n\n\n1,496\n\n\n17%\n\n\n5%\n\n\nn/a\n\n\n\n\nOLP (USD m)\n\n\n394\n\n\n378\n\n\n329\n\n\n20%\n\n\n4%\n\n\n32%\n\n\n\n\nOLP/client average (USD)\n\n\n178\n\n\n174\n\n\n169\n\n\n5%\n\n\n2%\n\n\n15%\n\n\n\n\n \n· Number of clients up by 2% to 2,220,240\n· Outstanding Loan Portfolio (OLP) up by 4% to USD 394.2m\n· Stable underlying operating performance in line with expectations across all segments\n· Quality of OLP remained stable with PAR>30 at 0.5%\n· Lending operations commenced in Zambia and reported under East Africa segment\n· Currencies stabilised against the USD across all markets except for higher than expected Ghanaian Cedi (GHS) depreciation in March (which broadly corrected in April)\nDirk Brouwer, Chief Executive, commented:\n\"Performance during the first quarter of 2019 remains in line with expectations, with continued growth in branch and client numbers across all our operating regions. This was achieved despite the customary reduction in demand for loans, particularly in Africa, following the holiday season.\nWe expect growth to further strengthen for the remainder of the year.\"\nRegional performance:\nSouth Asia\n \n\n\n\n\n \n\n\n1Q\n2019\n\n\nFY\n2018\n\n\n1Q\n2018\n\n\nYoY\n\n\n1Q\n2019\n \n\n\nYoY % Change\n(constant currency)\n\n\n\n\nNumber of Clients (m)\n\n\n1.1\n\n\n1.1\n\n\n1.0\n\n\n13%\n\n\n3%\n\n\nn/a\n\n\n\n\nNumber of Branches\n\n\n667\n\n\n638\n\n\n587\n\n\n14%\n\n\n5%\n\n\nn/a\n\n\n\n\nOLP (USD m)\n\n\n227\n\n\n212\n\n\n195\n\n\n16%\n\n\n7%\n\n\n30%\n\n\n\n\nOLP/client average (USD)\n\n\n208\n\n\n201\n\n\n203\n\...