Bridge Philippines


Last updated 11 May 2020, by Impactyield.

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New holding company, focused on SME/micro-finance banks in rural Philippines.

We will accelerate growth in up to 10 established Rural Banks by providing Capital and Expertise.

The banks are privately owned, regulated, operate in markets with little competition, are focused on lower income unbanked populations. Most have assets of $50-100m and 20-40 branches. Most banks are already profitable – our aim is to accelerate growth. There are 15 banks in our pipeline.

The market is significantly under-penetrated. Only 18% of rural Filipino adults have bank accounts - well below trend. Few SMEs can access finance, especially in rural areas.

Bridge will create value by improving banking capabilities, especially in lending, achieving scale in back-office functions, consolidating banks, improving transparency and providing a reliable access to capital.

The Holding Company is led by Paul Kocourek, former Senior Partner at Booz & Co, and Gus Poston, a banker with 18 years experience in microfinance.

Financial description

Holding company will invest in 2-3 established Rural Banks, providing $4m-$20m additional capital to each bank.
The total holding company size will be $24m.
The target IRR is 19% gross of fees, 16% net of fees.

12 years

of track record


the year funded

24,242,000 USD


Asset manager

SDG goals

SDG targets

Safe and affordable housing

Full employment and decent work with equal pay

Increase access to financial services and markets

Key performance indicators

Fund overview

Asset manager: Bridge Philippines Investments Pte.

Product track record: Fund has 12 years of track record

Target IRR: 16%

Committed Capital: 24,242,000 USD (US Dollar)

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:


Inception year: 2011

Vintage year: 2014

Target region: , , ,

Target close date: 01/08/2014

Product term: Indefinite (target 7 year investment period)

Assets under management: 24,242,000 USD (US Dollar)

Investment size: Min: 15,000,000; Max: 500,000,000; Avg: 100,000,000

Co-investment policy: ,

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 2

Fund investments to date exited or repaid: 0

Management fee: n.a.

Carried interest: 20%

Hurdle rate: 8%

GIIN Investors' Council Investment: Yes

Limited Partners / Investors: FMO, DEG, ACCION, Bamboo Finance, Principals

Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors


E-mail: n.a.


Phone number: +63 9088122901

If you wish to have your details removed from this database please email

Gus Poston


Paul Kocourek


Impact Performance


Impact thesis

By 2020, the investee banks will serve 3m savings and loan customers. These customers will be located in rural areas, which are currently poorly served by banks. Most customers will be women. In addition, the banks will lend to many SMEs, the main source of job creation, which currently have limited access to finance.
Through partnership with Bridge, investee banks will become "Ethical Leaders"; following best practice in employee rights and good governance, focusing on financially excluded populations and areas.
Target banks are already socially motivated. Bridge will support them to become "Triple Bottom Line Lenders", focusing on socially and environmentally beneficial enterprises. Social and environmental criteria will be included in lending/credit risk management systems. Product development will focus on products promoting sustainable practice, especially within agriculture and small enterprise.
In summary, Bridge's investment program will result in
– ~3 million people with access to finance, especially women
– ~1.5 million people with jobs from SME lending and micro-finance
– promotion of socially and environmentally beneficial enterprises from Triple Bottom Line lending

Impact Management


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