Asa International Group Plc · LSE:ASAI
Asa International — FY2025 Earnings Presentation
22 slides from Asa International's earnings presentation, Apr 15, 2026
Slide 1: FY 2025 Results Presentation
FY 2025 Results Presentation ASA International Group plc 15 April 2026 Rob Keijsers Geert Embrechts Chief Executive Officer Chief Financial Officer
Slide 2: Rob Keijsers, Chief Executive Officer
Rob Keijsers Chief Executive Officer
Slide 3: Doubling profit, scaling impact
Doubling profit, scaling impact Sustained growth, enhanced profitability and strengthened balance sheet Clients (k) Gross OLP (USDm) Clients per loan 292 308 PAR>30 2.2% 1.8% officer ✓ Net profit almost doubled to USD 56.5m - highest in ASAI history 611.0 2,773 +33% 10% 458.6 ✓ Gross OLP up 33% with
Slide 4: Strong inherent operational leverage
Strong inherent operational leverage Accelerating growth driving improved efficiency +19% +36% +62% +546% +37ppt Client Growth OLP / Client Gross OLP Net profit growth Revenue vs costs Since 2023 Since 2023 Since 2023 Since 2023 Since 2023 GROWTH FROM 2023 BASELINE More clients drive scale - 19% c
Slide 5: Digital transformation – human led technology
Digital transformation – human led technology Enhancing resilience, improving productivity and providing a platform for growth Digital strategy Key milestones 2024 – early 2026 New core banking system replacing outdated legacy system – Resilience & robust foundation for scalable growth Core syst
Slide 6: Regional loan portfolio snapshot
Regional loan portfolio snapshot Well diversified portfolio driving loan portfolio growth – East Africa key contributor East Africa Gross OLP (USD m) 203.5 Tanzania: Implemented T24 platform in March 2026 unlocking scalable growth +37% 148.9 Kenya: +31% gross OLP growth while maintaining operati
Slide 7: Regional loan portfolio snapshot
Regional loan portfolio snapshot Well diversified portfolio driving loan portfolio growth – South Asia key contributor South Asia Gross OLP (USD m) India South Asia (Excl India) Pakistan: +31% gross OLP growth with rapid scaling under new leadership. Introducing Sharia-compliant lending alongside
Slide 8: Industry-leading loan portfolio quality
Industry-leading loan portfolio quality Group PAR>30 improved to 1.8% at the end of 2025 from 2.2% in the prior year East Africa PAR>30 West Africa PAR>30 Proven low-risk operating model delivering industry leading PAR>30 1.6% 1.5% 1.3% 1.1% Pakistan, Uganda, Kenya PAR>30 below 0.5% reflecting b
Slide 9: Geert Embrechts, Chief Financial Officer
Geert Embrechts Chief Financial Officer
Slide 10: Strong operating income growth
Strong operating income growth Driven by expanded asset base and positive yield trend OPERATING INCOME (USDm) GROSS YIELD, COST OF FUNDING, NIM 48.2% 44.2% 260.1 15.7 39.1% 187.7 39.3% 17.3 35.2% 30.8% 244.4 170.4 10.8% 11.4% 11.4% FY 2024 FY 2025 FY 2023 FY 2024 FY 2025 Net interest income Other op
Slide 11: Materially improved cost-income ratio
Materially improved cost-income ratio Net interest income growth has significantly outpaced expense growth TOTAL OPERATING EXPENSES (USDm) COST-INCOME RATIO 61.4% 56.8% 148.4 1.7% 1.9% 1.9 0.2% 0.1% 3.1 8.3 7.7% 0.7% 117.3 5.4 0.9 6.5 54.7 39.7 80.4 64.8 FY 2024 Net interest Hyperinflation Other Cre
Slide 12: Strengthened equity base
Strengthened equity base Strong growth in net profits alongside positive FX translation impact grew book value TOTAL COMPREHENSIVE INCOME (USDm) TOTAL EQUITY (USDm) Net profit FX translation reserve movement Other items 161.8 96.5 73.6 1.1 15.9 22.1 56.5 28.5 -4.3 -2.1 FY 2024 FY 2025 FY 2024 FY 202
Slide 13: Accelerating profitability from increasing operational leverage
Accelerating profitability from increasing operational leverage Effective tax rate reduced by 9 percentage points in 2025 NET PROFIT (USDm) REVENUE VS COSTS ETR 55.1% 45.6% (Incl. WHT) Indexed to 2023 = 0% 75.5% ETR 44.9% 39.3% (Excl. WHT) +94% +98% 57.2 0.6 38.9% 24.3% 56.5 56.5 28.5 29.4 7.6% FY 2
Slide 14: Strong funding position with a stable sourcing profile
Strong funding position with a stable sourcing profile Strong funding pipeline of USD 261.6m in 2026 to support portfolio expansion FUNDING MIX BREAKDOWN (USDm)(1) FUNDING MATURITY PROFILE (USDm)(7) LOANS BREAKDOWN (31 DEC 2025) Category % loans USDm 710.9 Hedged / LCY loans 99.8% 411.4 136.7 243.7
Slide 15: Rob Keijsers, Chief Executive Officer
Rob Keijsers Chief Executive Officer
Slide 16: 2025 delivery against the refined strategy
2025 delivery against the refined strategy Significant strategic execution milestones Mission Enhance socio-economic progress of low-income entrepreneurs by increasing financial inclusion Pillars Drive Growth Build Resilience Achieve Sustainable impact 1 2 3 2.8m clients / 33% growth in Gross OLP
Slide 17: Top strategic priorities
Top strategic priorities Distillation of the strategy house into tangible, succinct, compounding priorities Natural outcome of the ASA Model is meeting client needs by graduating their loan sizes to 1 Client Journey small business loans and MSME - foundation to maximise income generation and durabil
Slide 18: 2025 key highlights & outlook
2025 key highlights & outlook Executive Committee: New CFO, Chief Risk & Compliance Officer, CTO, and CHRO People Country leadership: New CEOs appointed in Pakistan, Nigeria, Sri Lanka, and Sierra Leone Strengthening MSME value proposition and launching microinsurance partnership Strategy De
Slide 19: Disclaimer
Disclaimer IMPORTANT: You must read the following disclaimer before continuing. The use of this presentation or its contents or otherwise arising in connection with the presentation to reflect any change in their expectations or any change in events, following applies to this document, and the infor
Slide 20: Appendix
Appendix
Slide 21: Summary income statement
Summary income statement (USDm unless otherwise stated) FY 2024 FY 2025 YoY Change Interest and similar income 213.9 299.9 40% Interest and similar expense (43.5) (55.4) 28% Net interest income 170.4 244.4 43% Other operating income 17.3 15.7 -9% Credit loss expense (6.8) (7.8) 15% Net operating inc
Slide 22: Summary balance sheet
Summary balance sheet (USDm unless otherwise stated) 31 Dec 2024 31 Dec 2025 YoY Change Cash and cash equivalents 108.4 150.5 39% Loans to customers 410.0 574.4 40% Other assets 50.1 72.2 44% Total assets 568.5 797.1 40% Client deposits 90.1 136.7 52% Interest-bearing debt 312.7 412.4 32% Other liab
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