ASA International Says Some Countries See Worst Loan Rates In May

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Joe Hoppe

On Thursday, ASA International Group PLC reported that collection efficiency declined in India and Sri Lanka in May, but improved in the Philippines and Myanmar.

The London-based microfinance organization said liquidity remains high, with the group holding about $ 105 million in unlimited cash and cash equivalents at the end of May. The volume of discussed deals for financing ASA amounted to about $ 162 million.

The ASA reported that fees fell to 67% from 87% on a monthly basis in India due to blockages in most states after the second wave of the coronavirus pandemic hit most of the country, while fees in Sri Lanka fell to 57%. from 93% due to implementation. new locks.

Fees in the Philippines rose to 89% from 84%, despite regional restrictions, and fees in Myanmar rose to 67% from 55%, despite disruptions due to the military takeover of the government.

ASA’s number of clients remained at 2.5 million, although its total loan portfolio fell 2.4% from the previous month to $ 470 million at the end of May, the company said.

Email Joe Hoppe at joseph.hoppe@wsj.com

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