Earnings release
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ASA International Group plc - Q4 2025 Trading and Business Update ASA International Group plc (LSE: ASAI), one of the world's largest international microfinance institutions, today provides a trading update including a business operations update for the three-month period ended 31 December 2025. Highlights · FY 2025 profit expected to double: On a preliminary unaudited basis, FY 2025 net profit is expected to be approximately USD 57m (2024: USD 28.5m), reflecting disciplined execution of the Group's strategic growth agenda · Strong Loan Portfolio Growth Gross Outstanding Loan Portfolio (OLP) increased to USD 628.4m as at 31 December 2025 (+13% versus 30 September 2025: USD 553.9m; +37% versus 31 December 2024: USD 458.6m). Growth was driven primarily by Ghana, Pakistan, Uganda, Tanzania, Kenya and Nigeria. Client numbers increased by almost 100k clients during the quarter · Resilient Portfolio Quality PAR>30 (including off-book loans and excluding loans overdue by more than 365 days) improved to 1.8% as at 31 December 2025 (30 September 2025: 2.0%) · Digital Transformation Milestone Migration to Temenos Transact (T24) in Ghana was completed in October 2025 and new digital apps for clients and loan officers were launched, with the loan officer app already live. Focus now shifts to the planned Tanzania migration in Q1 2026. · Leadership Strengthened A new CEO has been appointed in Sierra Leone, alongside new CFO appointments in Sierra Leone and Zambia ASA International's FY 2025 results and the proposed final dividend will be announced on 15 April 2026. Rob Keijsers, ASA International CEO, said: "2025 was another outstanding year for ASA International with the delivery of both strong operational growth and significantly increased levels of profitability. Profitability has doubled compared to 2024 and Gross OLP has increased by 37% versus the prior year. It is encouraging to see that the refined strategy we adopted at the start of the year, alongside strengthened leadership layers and an expanded product suite, is already starting to pay off. 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 2.8m clients. "Zooming into Q4 specifically, performance in the quarter once again demonstrated the robustness of our operating model and saw growth across key markets, including Pakistan, Uganda, Tanzania and Kenya. Our responsible approach to growth is further evidenced by the improved loan portfolio quality seen in the quarter. We also built on the successful digital transformation in Ghana with an intensification of the work ahead of the forthcoming Tanzania migration. As 2026 progresses, our priorities remain firmly centred on sustainable growth, transforming the business through our digital agenda, creating further resilience across the organisation and driving operational excellence. At the heart of all of this remains our mission of increasing financial inclusion for underserved female entrepreneurs." Business Operations Update Clients (in thousands) Delta Number of branches Delta d of period Dec-24 Sep-25 Dec-25 Dec 24 - Dec 25 Sep 25 - Dec 25 Dec-24 Sep-25 Dec-25 Dec 24 - Dec 25 Sep 25 - Dec 25 kistan 662 696 741 12% 6% 380 405 405 7% 0% ia (total) 172 121 118 -32% -3% 175 155 158 -10% 2% Lanka 44 47 46 4% -3% 63 63 63 0% 0% outh Asia 878 865 904 3% 5% 618 623 626 1% 0% e Philippines 353 365 369 5% 1% 400 415 415 4% 0%
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anmar 122 132 133 9% 1% 89 91 91 2% 0% outheast Asia 475 498 502 6% 1% 489 506 506 3% 0% ana 223 245 250 12% 2% 153 153 154 1% 1% geria 150 170 165 10% -3% 269 270 270 0% 0% rra Leone 43 47 50 15% 6% 49 49 48 -2% -2% West Africa 416 463 465 12% 0% 471 472 472 0% 0% nzania 280 311 321 14% 3% 221 244 244 10% 0% nya 262 298 312 19% 5% 145 160 160 10% 0% anda 150 193 214 43% 11% 125 133 133 6% 0% anda 23 24 23 0% -6% 37 37 37 0% 0% mbia 29 32 37 29% 14% 39 56 55 41% -2% ast Africa 744 858 907 22% 6% 567 630 629 11% -0.2% oup 2,513 2,683 2,778 11% 4% 2,145 2,231 2,233 4% 0.1% · Total number of clients across all regions increased to 2.8m at the end of Q4 2025, 4% higher than at the end of Q3 2025 and 11% higher than at 31 December 2024. This growth was seen across the network, but primarily driven by increased client numbers in Pakistan, Uganda, Kenya, and Tanzania Gross OLP (in USDm) Delta PAR>30 End of period Dec-24 Sep-25 Dec-25 Dec 24 - Dec 25 (USD) Dec 24 - Dec 25 (CC) Sep 25 - Dec 25 (USD) Sep 25 - Dec 25 (CC) Dec-24 Sep-25 Dec-25 Pakistan 90.0 104.6 118.1 31% 32% 13% 12% 0.5% 0.4% 0.4% India (total) 40.5 28.6 30.2 -25% -22% 6% 7% 5.4% 5.8% 2.8% Sri Lanka 5.4 6.6 6.6 22% 29% 0% 2% 4.9% 3.9% 4.5% South Asia 135.8 139.8 155.0 14% 16% 11% 11% 2.1% 1.7% 1.0% The Philippines 60.4 63.7 63.3 5% 6% -1% 0% 6.8% 7.2% 6.0% Myanmar 27.3 34.3 36.0 32% 32% 5% 5% 0.3% 0.8% 0.7% Southeast Asia 87.6 98.1 99.3 13% 14% 1% 2% 4.8% 5.0% 4.1% Ghana 67.7 109.6 141.9 110% 50% 29% 10% 0.2% 0.3% 0.9% Nigeria 11.8 17.0 19.3 64% 54% 14% 11% 4.9% 2.6% 2.8% Sierra Leone 6.7 8.0 9.3 37% 37% 16% 17% 9.4% 7.0% 5.3% West Africa 86.2 134.5 170.4 98% 49% 27% 10% 1.5% 1.0% 1.3% Tanzania 85.4 94.7 103.3 21% 23% 9% 10% 1.3% 2.0% 2.1% Kenya 36.4 44.7 47.6 31% 31% 7% 6% 0.3% 0.3% 0.3% Uganda 18.6 30.3 39.0 110% 106% 29% 33% 0.7% 0.2% 0.2% Rwanda 5.2 6.7 7.3 40% 47% 9% 10% 5.1% 6.3% 8.6% Zambia 3.3 5.1 6.5 100% 59% 27% 18% 3.4% 2.8% 3.9% East Africa 148.9 181.5 203.7 37% 37% 12% 13% 1.1% 1.4% 1.6% Group 458.6 553.9 628.4 37% 29% 13% 10% 2.2% 2.0% 1.8%
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· Gross OLP increased to USD 628.4m, representing a 13% rise from the end of Q3 2025 and a 37% increase compared to 31 December 2024. Growth was seen across the network, but driven primarily by Ghana, where Gross OLP rose by USD 32m during Q4 2025, reflecting both strong underlying portfolio expansion and a 15% appreciation of the Ghanaian cedi from Q3 2025. Further positive contributions came from Pakistan, Uganda, Tanzania, Kenya, and Nigeria · PAR>30, including off-book loans and excluding loans overdue for more than 365 days, improved to 1.8% at the end of Q4 2025. This was primarily due to better portfolio quality in the Philippines and Sierra Leone, which offset decreases in portfolio quality in Rwanda, Nigeria, and Sri Lanka. Outstanding portfolio quality was recorded in Pakistan, Kenya, and Uganda with PAR>30 less than 0.5% as at 31 December 2025 Notes (1) All data in this announcement are unaudited. FY 2025 results remain subject to the completion of the Group's year- end audit process which will finalise certain adjustments relating to ASA India, hyperinflation accounting and tax provisions. (2) Constant currency ('CC') implies conversion of local currency results to USD with the exchange rate from the end of December 2024 and September 2025. (3) PAR refers to 'Portfolio at Risk'. PAR>30 is the percentage of outstanding customer loans with at least one instalment payment overdue 30 days, excluding loans more than 365 days overdue, to Gross OLP including off-book loans. (4) 'ASA International', the 'Company', the 'Group' all refer to ASA International Group plc and its subsidiaries. Enquiries ASA International Group plc Investor Relations Jonathan Berger ir@asa-international.com About ASA International Group plc ASA International Group plc (LSE: ASAI) is one of the world's largest international microfinance institutions, with a strong commitment to financial inclusion and socioeconomic progress. The company provides small, socially responsible loans to low-income, financially underserved entrepreneurs, predominantly women, across South Asia, South East Asia, West and East Africa. Disclaimer This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restriction.