funding gap emerging markets

Salym is a microfinance institution that was created in 2007 by four local businessmen. The Company supports people living in rural and peri-urban areas (65% of the clients are rural residents) by offering different financial products, including housing loans 27%, consumer loans 9%, agricultural loans 19%, business loans 28%, and mortgages 17% (the percentages are outstanding as part of the GLP).

In 2012, the Company transformed from a Microcredit company to an Open Joint Stock Company. This means that that the company can trade securities (both bonds and shares) on the Kyrgyz stock exchange. Since 2019 the Company can attract deposits (today, ~40% of Salym's liabilities are related to deposits).

The majority (75%) are owned by the four founders, with 25% publicly listed shares. The Company hasn't attracted any institutional shareholders yet.

The institution has a loan portfolio of USD 25m and a balance sheet (total assets) of USD 33m. The institution has attracted many international lenders, including Blue Orchard, MicroVest, Triple Jump, ADA, Grameen Agri, and Envest.

Salym has 160 employees and 23 offices, 15,500 borrowers, and 1200 deposit holders

BBB rating from MicroFinanza Rating (MFR). In 2019, the Company received a Smart Campaign international certification of adherence to the principles of customer protection

General information

BorrowerOJSC MFC "Salym Finance"
Head officeBishkek
Founded31 May 2007
Active on Lendahand since28 December 2021
Credit ScoreB+

Financial information per 2021-12-31

Portfolio Overview€40,138,998.34
Leverage ratio13.42%
Write-off ratio last 12 months0.97%
% investment amount in arrears (>90 days)2.00%

About Kyrgyzstan

Kyrgyzstan, officially the Kyrgyz Republic, is a mountainous landlocked country in Central Asia. Kyrgyzstan is bordered by Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the south, and China to the east. Its capital and largest city is Bishkek. Ethnic Kyrgyz make up the majority of the country's six million people, followed by significant minorities of Uzbeks and Russians. It is a developing country ranked 120th in the Human Development Index, and the second poorest country in Central Asia. The country's transition economy is heavily dependent on deposits of gold, coal and uranium.

Last funded project