ASA International Group Reports Strong First-Half Earnings and Outlines Strategic Expansion
ASA International Group reported strong first-half performance, with net profit rising by 70% year over year to $45.6 million and underlying profit increasing by 42% to $34.3 million. The company raised its interim dividend by 43%, signaling confidence in meeting or exceeding the full-year consensus of $70.2 million for underlying profits. The client base surpassed 2.7 million, with a loan portfolio reaching $600 million—up 18% year over year and 24% at constant currency. East Africa led growth despite challenges in Uganda, Ghana, and the Philippines affecting delinquency rates slightly to 2.4%. The company has completed its exit from India and plans to expand into the Democratic Republic of Congo early next year. ASA International is investing heavily in digital systems, deposits, and new products as part of a strategic transition. It was also admitted to the FTSE All-Share Index in June.
Topics: client base expansion dividend announcement financial performance loan portfolio growth