Banco Popular is a Bank specialized in micro and small businesses in Honduras.
Type of investment
- Local economic growth
- Financial inclusion
Banco Popular is the leading bank specialised in microfinance in Honduras. It offers loans, deposits, money transfer and other financial services to privately-owned micro and small enterprises and their owners, as well as the general lower income strata of the Honduran population.
It started its activities in 2004 as a Saving Association and received the commercial banking license form the Honduran Banking Commission in 2008. The bank currently operates from 28 branches with presence in 13 out of 18 departments of Honduras.
BIO is a shareholder of Banco Popular since 2008 when it invested together with several other DFI's with the aim of assisting the institution in its transformation to a commercial bank specialized in microfinance. Since then, BIO participated to 3 capital increases in 2009, 2015 and 2017. BIO has also supported the bank with 2 TA projects to strengthen credit and banking services operations.
BIO's investments will be used to grow the micro and SME portfolio of the bank, in particular in rural zones of the country.
Local economic growth
91% of portfolio are loans provided to micro-enterprises (59%) and SMEs (32%).
The bank is currently expanding in areas that are less urban and with lower penetration of financial institutions (13% of portfolio currently located in rural areas).
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