Key performance indicators
|
(Audited - USDm unless otherwise stated) |
H1 2026 |
H1 2025 |
Change |
% Change |
| Reported net profit1 | 45.6 | 26.8 | 84% | 70% |
| Underlying net profit2 | 34.3 | 24.2 | - | 42% |
| PAR>30 days3 | 2.4% | 2.0% | - | 0.4ppt |
| Number of clients (m) | 2.7 | 2.6 | - | 6% |
| Number of branches | 2,124 | 2,232 | - | -5% |
| Profit before tax1 | 66.6 | 47.8 | 46% | 39% |
| OLP4 | 595.7 | 527.4 | 19% | 13% |
| Gross OLP4 | 603.9 | 540.9 | 18% | 12% |
OLP and Gross OLP figures for H1 2026 reflect the prevailing market exchange rate for the Myanmar kyat at 30 June 2026, whereas the H1 2025 comparative figures were translated using the official central bank rate at 30 June 2025. This difference reflects the application of IAS 21 relating to lack of exchangeability, which was applied as of 31 December 2025.
"We are pleased with the continued progress delivered across the Group during the first half of 2026. The continued trust and commitment of our clients, combined with the strength of our operating model and disciplined execution of our strategy, have enabled ASA International to deliver resilient portfolio growth alongside strong profitability."
Rob Keijsers – CEO, ASA International Group PLC
- Strong profit growth – Reported net profit increased by 70% to USD 45.6m (H1 2025: USD 26.8m). Underlying net profit increased by 42% to USD 34.3m (H1 2025: USD 24.2m) which excludes favourable India-related one-offs. Return on average equity on a reported basis increased to 55% from 49% year-on-year, mainly due to India related one-offs
- Robust loan portfolio expansion – Gross Outstanding Loan Portfolio rose 12% YoY to USD 603.9m despite challenging circumstances across many markets. Growth mainly driven by Pakistan, Uganda and Kenya
- Resilient portfolio quality – Group PAR>30 was at 2.4% (H1 2025: 2.0%), which remains industry leading
- Equity strengthened by earnings growth – Total equity up by 41% to USD 192.6m YoY, supported by strong profit generation partially offset by a negative FX translation reserve of USD 5.7m (vs USD 15.5m gain in H1 2025) reflecting currency depreciation across a number of operating markets, most notably the Ghanaian cedi. Accordingly, total comprehensive income of USD 39.9m was generated in H1 2026 (H1 2025: USD 43.5m), reflecting continued growth in underlying net profit, offset by an adverse movement in the FX translation reserve
- Stable funding position – Total funding rose by 13% to USD 751.8m in H1 2026 from USD
668.1m in H1 2025, supported by improved equity, continued deposit growth and stable debt sourcing. A robust USD 305.0m funding pipeline is in place to support future growth - Growing capital returns and capital strength – Interim dividend declared of USD 0.069 per share (+43% YoY, USD 0.048 over H1 2025), maintaining the H1 payout ratio of 20% of underlying net profit. Overall capital position remains strong with sufficient capital resources to fund strategic objectives while maintaining the current dividend policy
Building on the business momentum seen during H1, the outlook for the remainder of 2026 remains
positive with resilient business and financial performance expected alongside continued client
demand. Accordingly, the Board’s expectation is that the underlying net profit for 2026 (which
excludes the favourable India-related one-off items) will be in line or slightly ahead of the Board’s
understanding of the current market consensus for FY 2026 of USD 70.2m (as of the date of this
announcement).
Rob Keijsers, ASA International CEO, said:
“We are pleased with the continued progress delivered across the Group during the first half of 2026. The continued trust and commitment of our clients, combined with the strength of our operating model and disciplined execution of our strategy, have enabled ASA International to deliver resilient portfolio growth alongside strong profitability. These results are also a reflection of the strength and commitment of our teams across our various operating markets and the continued trust of our 2.7m clients. This strong performance supports our positive expectations for the second half of 2026 and has meant that we can continue to provide capital returns to our shareholders. These results mark a continuation in the growth of ASA International’s profitability, reflecting a disciplined operating model that prioritises portfolio quality and sustainable returns over the pace of expansion.
“We are encouraged by the momentum seen across a number of key markets, combined with our industry
leading portfolio quality, continued progress in our digital transformation and the further reduction of our
exposure to India. With a strengthened capital position, we are well placed to fund the next phase of
growth, while maintaining the same disciplined, measured approach that has underpinned our performance.
“We believe ASA International is well positioned to execute on its strategy and deliver sustainable, high
quality growth for the benefit of our shareholders, clients and lenders alike.”