Current Investors

We have solid and diversified investor structure:

  • Investment Fund for Developing Countries (IFU), Denmark
  • Finnish Fund for Industrial Co-operation (FinnFund), Finland
  • A large Danish Family Office
  • 10 HNWI investors, Global

31.12.2014 31.12.2015 31.12.2016 31.12.2017 31.12.2018 28.02.2019
Total BOPA Assets (USD) 1,665,138 4,096,012 6,417,345 11,977,398 16,381,113 16,665,659
Loan Portfolio (USD)* 26,780,632 49,583,217 58,221,703 81,244,333 185,233,684 197,202,160
PAR 30** 1.19% 2.30% 2.53% 2.32% 1.26% 1.08%
Portfolio Companies 4 7 7 7 9 9
Client Outreach 84,030 112,682 135,769 191,654 605,745 650,393

*accumulated for all portfolio companies, **weighted average for all portfolio companies

Download Factsheet

Asian Credit Fund, Kazakhstan

ACF is providing microfinance and related services for rural areas in Kazakhstan with a special focus on the more densely populated areas in South Kazakhstan and China border areas. ACF is currently serving 21,174 clients (31 May 2018).

Why BOPA invested: ACF is one of the few real MFIs in Kazakhstan that has rural focus and commitment to a strong social mission. On top of that, we are impressed with the management team and their ability to balance strong financial performance and social impact.



Kaebauk Investimentu no Finansas, East Timor

In the new country of East Timor, KIF is focusing on providing microfinance and allied services for a large number of the poor in East Timor in a sustainable and regulated manner. KIF is currently reaching around 12,083 clients (31 May 2018)

Why BOPA has invested: KIF was one of only two MFIs that survived the civil conflict in East Timor. It is a resilient organization that has the potential to play a significant role in providing financial services to poor households in East Timor.


Thanh Hoa MFI, Vietnam

The Thanh Hoa MFI is committed to serving the poor of Thanh Hoa Province, and ensuring a higher standard of living for poor women and their families. Thanh Hoa serves 20,833 clients (31 May 2018)

Why BOPA has invested: The microfinance sector in Vietnam is still in its very early stages of development and access to finance is cited as the number one constraint by micro- and SME-sectors in World Bank 2011 Enterprise Survey. Thanh Hoa MFI has received the third commercial microfinance license in Vietnam on 29 September 2014 and has an ambitious management team that is committed to build scale and expand to become a nation-wide provider of microfinance services.

Chamroeun Microfinance Limited, Cambodia

Chamroeun target very poor individuals and communities in urban and peri-urban areas that are excluded from formal financial services. Chamroeun primarily disburses individual loans and has currently around 24,894 clients (31 May 2018)

Why BOPA has invested: Chamroeun has the lowest average loan size amongst MFIs in Cambodia and is widely recognized as the MFI with deepest outreach and a leader in social impact. With improvement of efficiency, the institution has strong potential to grow in scale and improve impact.

Alliance, Myanmar

Alliance is a deposit taking microfinance institution, which was set-up in 2014 with a mission to promote financial inclusion to low-income households, businesses and farmers in Myanmar.

Alliance is currently reaching 103,403 clients (31 May 2018) in the Mandalay area.

Why BOPA Invested: Myanmar is a market where microfinance can play a key role in the emerging financial sector in the country. With its strong focus on technology and solid credit underwriting, Alliance is well positioned to become one of the leading microfinance institutions in Myanmar.


Elet Capital, Kyrgystan

ELET Capital, is a sustainable microfinance institution focusing on providing rural entrepreneurs with individual loan products to develop their businesses. ELET Capital started operations in 2005 and has currently 13,458 clients (31 May 2018)

Why BOPA has invested: Microfinance play a very significant role in the financial sector in Kyrgyzstan. Elet Capital has an impressive management team and an innovative approach to reach and manage clients, which has led ELET to sustain high loan portfolio quality and to differentiate itself from other players in the microfinance market in Kyrgyzstan.

Matin, Tajikistan

Matin was established in 2010 and currently serves around 7,569 clients (31 May 2018)

Why BOPA has invested: Matin is a well managed MFI in Tajikistan, that offers a diverse range of services to clients, including deposits, remittances and bank cards.

Even during the current challenging economic environment in Central Asia, Matin has retained its profitability, maintains one of the lowest PAR in the industry in Tajikistan and has funded 70% of its loan portfolio with deposits.