Asa International Group Plc · LSE:ASAI
Asa International — FY 2024 Earnings Presentation
24 slides from Asa International's earnings presentation, Apr 24, 2025
Slide 1: FY 2024 Results Presentation
FY 2024 Results Presentation ASA International Group plc 24 April 2025 Rob Keijsers Chief Executive Officer Tanwir Rahman Chief Financial Officer
Slide 2: Rob Keijsers, Chief Executive Officer
Rob Keijsers Chief Executive Officer
Slide 3: 2024 – Return to sustainable growth
2024 – Return to sustainable growth Net profit trebling to USD 28.5m and comprehensive income growing to USD 22.1m KPI highlights Leadership Clients (k) OLP (USDm) New leadership and management approach Clients per loan 287 292 Commenced process to strengthen ExCo officer +21% 446.6 Chief Risk
Slide 4: Well diversified portfolio driving Gross OLP growth
Well diversified portfolio driving Gross OLP growth East Africa continues to be a key contributor South Asia Gross OLP (USD m) West Africa Gross OLP (USD m) Q1 2025 FY 2024 FY 2023 Q1 2025 FY 2024 FY 2023 2024-2023 2024-2023 YoY % change YoY % change 133.4 89.8 +16% South Asia 135.9 +13% West Africa
Slide 5: Loan portfolio quality
Loan portfolio quality Low group PAR>30 of 2.2% as at 31 December 2024 - maintained into Q1 2025 Group PAR>30 remained broadly stable at 2.2% at PAR>30 BY COUNTRY the end of 2024 as well as the end of Q1 2025 Outstanding portfolio quality was consistently 31-Dec-23 31-Dec-24 31-Mar-25 recorded i
Slide 6: Tanwir Rahman, Chief Financial Officer
Tanwir Rahman Chief Financial Officer
Slide 7: 2024 financial snapshot
2024 financial snapshot Significantly improved financial performance across the board Profit before tax (USDm) Net profit (USDm) Cost-to-income 63.5 28.5 -10.7pp 72.1% +97% +226% 61.4% 32.2 8.8 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 Total assets (USDm) Total equity (USDm) Total comprehensiv
Slide 8: Positive yield and NIM trends
Positive yield and NIM trends GROSS YIELD, COST OF FUNDING, NIM NIM BUILD UP 44.2% +8.4pp 35.2% 39.1% 36.3% 30.8% 35.2% -3.1pp 30.8% -0.8pp 28.1% 10.7% 10.8% 11.4% FY 2022 FY 2023 FY 2024 NIM 2023 2023 Other interest Interest and Interest income NIM 2024 2024 and similar similar expense calculated u
Slide 9: Improved income trends driving enhanced profitability
Improved income trends driving enhanced profitability TOTAL OPERATING INCOME (USDm) PROFITABILITY (USDm) 187.7 +97% 17.3 148.2 9.3 63.5 +226% 170.4 138.9 32.2 28.5 8.8 FY 2023 FY 2024 FY 2023 FY 2024 Net interest income Other operating income Profit before tax Net profit Total operating income inc
Slide 10: Operating expenses development
Operating expenses development TOTAL OPERATING EXPENSES (USDm) COST TO INCOME RATIO 117.3 111.0 72.1% 0.9 5.4 2.0 5.8 6.5 5.6 +0.9pp +1.9pp 61.4% +0.6pp -11.3pp 39.7 -2.8pp 35.5 62.1 64.8 Cost to Net Other Credit loss Personnel Other Cost to income 2023 interest operating expense expenses operating
Slide 11: Increased funding with a stable sourcing profile
Increased funding with a stable sourcing profile FUNDING MIX BREAKDOWN FUNDING MATURITY PROFILE (USDm) 499.3 424.2 90.1 79.1 246.9 259.8 214.7 164.1 11.0 28.2 41.9 25.6 76.6 96.5 FY 2023 FY 2024 Equity Loans from dev. banks & foundations 1-12 months 1-5 years Microfinance Loan Funds Loans from local
Slide 12: Hyperinflation accounting (IAS 29) update
Hyperinflation accounting (IAS 29) update Applied to Ghana and Sierra Leone in 2024. Only Sierra Leone considered to be hyperinflationary for 2025 Background and context Positive impact on FX translation reserve (USDk) IAS 29 “Financial Reporting in Hyperinflationary Economies” applicable to (8,82
Slide 13: Rob Keijsers, Chief Executive Officer
Rob Keijsers Chief Executive Officer
Slide 14: Driving long term sustainable growth
Driving long term sustainable growth Mission Enhance socio-economic progress of low-income entrepreneurs by increasing financial inclusion Build Resilience Pillars Drive Growth Achieve Sustainable impact Don't build a castle on quicksand 1 2 3 Maximize current model Strengthen governance and A A A F
Slide 15: Digital transformation programme
Digital transformation programme Improve current operations with mobile money solutions 1 ENHANCE CBS for resilience and compliance Robust CBS is foundation for regulatory compliance and client base growth 2 TRANSFORM DFS for enabling growth Create compelling client offering with addition of digital
Slide 16: Transformation roadmap
Transformation roadmap Focus on de-risking by migrating largest countries first and leveraging infrastructure investments Client % PK Ghana 60% Tanzania Leverage TZ & GH Hub Kenya Nigeria 67% Uganda 73% Rwanda 75% Priority based on country size Zambia 76% Open decision points - timing and read
Slide 17: Capital allocation framework
Capital allocation framework Invest Acquire Efficiently support a long-term market Current organic growth strategy focus opportunity through disciplined cost Invest management to drive organic growth Holdings surplus will allow potential purchase of financial institutions with banking license
Slide 18: FY 2025 outlook
FY 2025 outlook Continued strong client demand and greater efficiency expected to drive robust financial performance FY 2024 FY 2025 OLP growth 21% c. 20% NIM Cost-income 61% Mid 60s Hyperinflation impact 18
Slide 19: 2024 – Return to sustainable growth
2024 – Return to sustainable growth New leadership and management approach effectively bedded in Commenced process to strengthen ExCo Leadership Refreshed local leadership in a number of countries Strong operational performance with continued high demand for loans from clients Continued OL
Slide 20: Appendix
INTERNATIONAL Appendix
Slide 21: 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 22: Summary income statement
Summary income statement (USDm unless otherwise stated) FY 2024 FY 2023 YoY Change Interest and similar income 213.9 176.6 21% Interest and similar expense (43.5) (37.8) 15% Net interest income 170.4 138.9 23% Other operating income 17.3 9.3 85% Credit loss expense (6.8) (5.0) 36% Net operating inco
Slide 23: Summary balance sheet
Summary balance sheet (USDm unless otherwise stated) FY 2024 FY 2023 YoY Change Cash and cash equivalents 108.4 118.5 (9%) Loans to customers 410.0 330.2 24% Other assets 50.1 41.3 21% Total assets 568.5 490.0 16% Client deposits 90.2 79.1 14% Interest-bearing debt 312.7 268.5 16% Other liabilities(
Slide 24: Regional snapshot
Regional snapshot South Asia South East Asia West Africa East Africa FY 2024 (in USDm) Net interest income 35.2 33.2 47.7 59.5 Credit loss expense (2.3) (2.5) (0.9) (1.3) Net operating income 36.2 33.5 46.8 56.6 Total operating expenses(1) (25.0) (25.2) (22.6) (32.1) Profit before tax 11.2 8.3 24.2
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