13 October 2013, The Myanmar Times
Hong Kong-based private equity firm Bagan Capital announced last week that its local arm, BC Finance Ltd, launched microfinance operations in Myanmar.
Earlier this month, the firm began offering credit and deposit accounts at its branch in Bago Region and expects to have a loan portfolio in excess of K5 billion (about US$5 million) in 12 months, Jeremy Kloiser-Jones, chief executive officer and founder of BC Finance told The Myanmar Times.
“Clients will span urban and semi-rural areas, expanding to rural areas in the future as we develop our presence,” he said in an email.
He said that the average loan size for individual clients would be K250,000 to K300,000 and that the firm is open to offering more for small- and medium-sized enterprises.
Bagan Capital has offices in Yangon, Nay Pyi Taw and Mandalay.