BancoSol S.A.

What BancoSol S.A. does

BancoSol S.A. (Banco Solidario S.A.) is a Bolivian commercial bank and the world's first regulated microfinance institution, having converted from its 1986 foundation origins into a supervised bank on February 10, 1992. The bank serves more than 2.4 million customers across all 10 departments of Bolivia through 1,798+ physical service points, a digital platform (SolNet Digital, appSol, altoke), and a non-financial correspondent network (Puntos Sol Amigo Express). It underwrites 1 in 4 microloans in the country, with a loan portfolio of USD 2.676 billion (December 2025) supporting 371,000+ borrowers and a deposit base of USD 2.638 billion (November 2025); it has been ranked Bolivia's #1 bank by the CAMEL solidity ranking for 10 consecutive years and is the largest private bank by equity in the country.

The bank's core product is microcredit extended to microentrepreneurs and small producers, supplemented by savings accounts (Cuenta de Ahorro, Cuenta Sólida Digital, DPF Sol Festivo), bundled insurance, and digital payments via altoke — a 100% Bolivian in-house-developed QR payment app with 1.5 million users and 217 million transactions as of January 2026. Its technology stack includes the Centro Digital (in-house digital R&D unit), the altoke QR infrastructure with offline collection capability, the Mis Finanzas personal finance management tool, and the SolPasanaku digital rotating-savings game. Specialized programs include Avanza Mujer (a gender-smart banking model with USD 1.288 billion deployed to 184,000+ women entrepreneurs) and MIC (Museo Interactivo de las Microfinanzas, a cultural program operating in five cities).

BancoSol's revenue model is primarily net interest income from the USD 2.676 billion microcredit portfolio and a positive spread on USD 2.638 billion in deposits, supplemented by insurance commissions, transaction-based fees on correspondent banking (Sol Amigo Express), and indirect monetization of altoke (no end-user commissions, but the app drives loan disbursements, deposit collection, and cross-sell). Wholesale funding includes two consecutive gender-labelled social bond issuances (Bs 205.8M in 2024 and Bs 150M in 2025, totaling USD 52M) backed by BID Invest, plus multilaterals (IFC, CAF, BID). The bank is regulated by ASFI, has 4,418 employees making it Bolivia's largest private financial-system employer, and is led by CEO Verónica Gavilanes (appointed January 2025) under Board President Esteban Altschul.

Name

BancoSol S.A.

Legal name

Banco Solidario S.A.

Website

https://bancosol.com.bo

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

BancoSol is Bolivia's pioneering regulated commercial microfinance bank, serving 2.4+ million customers across all 10 departments via 1,798+ service points, a USD 2.676 billion microcredit portfolio, the proprietary altoke QR payment platform, and the Avanza Mujer gender-smart banking program.

Ownership category

akta.pro rank

Product category

Microfinance and Retail Banking

NAICS

Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), SME Cash Management & Payments (Merchant, ACH/Wires, Payroll) (FSABABAD), SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations) (FSAGAAAI), Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM)

Keywords

• Microfinance banking
• Retail banking
• Consumer lending
• Savings accounts
• Digital payments

Headquarters

HQ city

La Paz

HQ country

Bolivia

HQ region

Latin America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Microcredit Interest Income: BancoSol's primary revenue stream is interest income from microloans extended to microentrepreneurs and small business owners across Bolivia. The bank serves as the largest microcredit provider in the country, with a loan portfolio exceeding USD 2.6 billion supporting over 369,000 borrowers.
2. Deposit-Taking and Savings Products: BancoSol collects savings deposits from individuals and microentrepreneurs, offering various savings account products (Cuenta de Ahorro, Cuenta Sólida Digital, Depósito a Plazo Fijo). Deposits total approximately USD 2.6 billion, providing a stable funding base and generating income through the spread between lending and deposit rates.
3. Insurance Products: BancoSol offers insurance products (seguros) as part of its financial services package, bundled with credit products and sold through its branch network. These include credit life insurance and other microinsurance products designed for the microenterprise sector.
4. Digital Payment Processing (altoke): The altoke QR payment solution generates revenue through transaction processing. While no commissions are charged to altoke users at present, the solution drives increased loan disbursements, deposit collection, and cross-selling of other BancoSol products. It also facilitates remittance collection.
5. Correspondent Banking (Sol Amigo Express): BancoSol operates a network of non-financial correspondents (Puntos Sol Amigo Express) that extend the bank's reach into underserved areas, generating fee income from transactions conducted at these third-party agent locations.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels9 records

Core offering

BancoSol is a Bolivian commercial bank that originates microcredit, consumer, mortgage, SME and corporate loans; takes retail and corporate deposits through savings accounts, checking accounts, fixed-term deposits and digital wallets; distributes insurance products; and operates a proprietary digital banking ecosystem (altoke QR, appSol, SolNet Digital, Sol Amigo correspondents) to serve over 2.4 million individuals and businesses across Bolivia. Its anchor franchise is regulated microfinance, complemented by women's banking (Avanza Mujer), social-impact microfinance (Impacta), loyalty (GanaSol) and digital financial inclusion programs.

Product overview

BancoSol S.A. is a commercial bank and world pioneer in microfinance offering a comprehensive suite of financial products and digital services. The bank operates a multi-channel platform comprising physical branches, digital channels (appSol mobile app, SolNet Digital internet banking), and non-financial correspondents (Sol Amigo Express). Key digital innovations include altoke (100% Bolivian QR payment/collection app), Mis Finanzas (financial management tool), and SolPasanaku Digital (gamified savings). Specialized programs include Avanza Mujer (gender-intelligent banking for women entrepreneurs) and MIC (cultural space for microentrepreneurs). Core offerings encompass credit, savings, insurance, fixed deposits, and loyalty programs, all supported by over 1,780 service points across Bolivia.

Differentiator

Problem solved

Functional benefit

Brands

• altoke: 100% Bolivian digital QR payment and collection app developed by BancoSol, enabling microentrepreneurs to accept digital payments without internet connectivity.
• Avanza Mujer
• MIC BancoSol
• appSol
• GanaSol

Products and services

• Créditos (Loans / Credit Portfolio)

Quantifiable outcome

• BancoSol serves 2.4+ million customers and is the #1 bank in Bolivia by the CAMEL ranking for 10 consecutive years (2025)
• +4 more outcomes

Named customers15 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered minor, flagship and core.

• AESA SostenibleminorOthers · 1 October 2025AESA Sostenible provided the external evaluation and certification of the second Bono Social Avanza Mujer, confirming alignment with ICMA Social Bond Principles and the Sustainable Development Goals.
• DeliziaflagshipStrategic or Co-development Partner · 27 August 2025Alliance with Bolivia's leading ice cream and dairy company (85% market share, 37 years operating, ranked #4 in food sector corporate reputation) to reach 159 Delizia agencies and 20,800+ tiendas de barrio. BancoSol opens altoke accounts at Delizia points and provides credit for agencies and their clients. Second phase adds commercial benefits (5% discount on Delizia products for BancoSol customers paying with BancoSol means of payment). Present in La Paz, El Alto, Santa Cruz, Cochabamba, Sucre, Oruro, Potosí, and Tarija.
• AESA RatingsOthers · 11 August 2025AESA Ratings assigned an AA1 rating to the second Bono Social Avanza Mujer (Bs 150 million, 5-year, 6.30%), providing investor confidence in the bond's creditworthiness.
• SOBOCE (Sociedad Boliviana de Cemento)flagshipStrategic or Co-development Partner · 1 October 2024Strategic alliance signed in October 2024 between BancoSol and SOBOCE to support hardware store owners (ferreterías) — the main link in Bolivia's construction supply chain. More than 200 ferreterías in the ConstruRed network gain access to BancoSol credit on favorable terms and non-financial services such as virtual and in-person training in financial, business, and digital skills. The first value chain financing model implemented by the bank. 70% of these businesses are women-led.
• UNICEF BoliviaminorStrategic or Co-development Partner · 1 August 2024UNICEF Bolivia (represented by official Carolina Linares) participated in BancoSol's maternity and paternity leave policy announcement, contributing expertise on breastfeeding support and child welfare policies. BancoSol implements UNICEF guidelines for its lactation rooms.
• ONU Mujeres BoliviacoreStrategic or Co-development Partner · 1 March 2024Co-development partner in the Avanza Mujer gender-smart banking model and co-organizer of the Premio Nacional de Periodismo con Perspectiva de Género (now in its third edition in 2026). ONU Mujeres provides technical expertise on gender equality and participates in BancoSol events such as the maternity leave policy announcement (with representative Nydia Pesántez). ONU Mujeres recognized BancoSol's WEPs implementation as an impact story in its global private sector equality report.
• Fundación para el PeriodismominorStrategic or Co-development Partner · 1 March 2024Co-organizer with BancoSol and ONU Mujeres of the Premio Nacional de Periodismo con Perspectiva de Género, now in its third edition (2026). Provides editorial expertise and reach into the journalism community to drive gender-sensitive media content.
• International Finance Corporation (IFC / Banco Mundial)coreStrategic or Co-development Partner · 1 October 2023IFC (World Bank Group) accompanied the development of the Avanza Mujer gender-smart banking model, providing technical assistance and international best practices for designing a banking model by, for, and with women. This partnership laid the groundwork for the gender bond program.
• GABV (Alianza Global para una Banca con Valores)minorStrategic or Co-development Partner · 1 October 2023BancoSol is the only Bolivian financial institution adhering to the Global Alliance for Banking on Values (GABV), which puts finance at the service of people and the planet. This membership provides international credibility for BancoSol's sustainability strategy.

Scale indicators42 records

Recent moves5 records

Expansion highlights8 records

Direct peers

• Banco Compartamos: Mexico-based commercial microfinance bank (formerly Compartamos Financiera) serving microentrepreneurs across Latin America. Direct peer given BancoSol pioneered the commercial microfinance bank model that Compartamos replicated and scaled across Mexico and other Latin American markets.
• Banco Pichincha (Pichincha Microfinanzas): Ecuadorian commercial bank with leading microfinance franchise, where BancoSol's CEO Verónica Gavilanes previously served as General Manager of Pichincha Microfinanzas for over two decades. Closest analog in Andean microfinance, sharing similar SME/microentrepreneur focus and digital transformation trajectory.
• MiBanco (Banco de la Microempresa): Peruvian commercial microfinance bank and pioneer in the Peruvian microfinance market. Direct peer in commercial microfinance banking with similar methodology adapted to microentrepreneur borrowers across Andean markets.
• Bancamía: Colombian commercial microfinance bank focused on microentrepreneurs and small businesses. Direct peer as a regulated commercial bank operating specifically in the microfinance segment, with comparable product suite and target customer base.
• ProCredit Holding: German-based banking group operating commercial banks focused on SME and microenterprise lending across Eastern Europe, Latin America, and Africa. Direct peer in the values-driven commercial banking space serving micro/SME clients with development impact orientation.

Regional players

• Banco BISA: Leading Bolivian commercial bank serving SMEs and corporate clients. Domestic competitor in the Bolivian banking system, directly competing with BancoSol for SME and microenterprise customers in overlapping geographies. Structured and placed BancoSol's gender bond as part of broader capital markets relationship.
• Banco Mercantil Santa Cruz: One of Bolivia's largest commercial banks headquartered in Santa Cruz. Regional incumbent competing for SME and retail customers across the same geographies as BancoSol, with a broader product portfolio but less microfinance specialization.
• Confianza (formerly Fondo de Desarrollo del Microcrédito) converted entities: Banco FIE is a Bolivian commercial bank focused on microfinance and SME lending, directly competing with BancoSol in the Bolivian microenterprise segment. Similar product suite including microcredit, savings, and group lending methodologies.
• Banco Ganadero: Bolivian commercial bank serving SME and retail customers with growing microfinance presence. Domestic competitor operating across Bolivia's main cities with overlapping customer segments to BancoSol.

Emerging players

• Compartamos Banco (Banco Compartamos): Colombian digital savings bank spun off from Banco Compartamos, focused on financial inclusion for the underserved. Emerging peer showcasing the digital-first microfinance banking model that BancoSol's altoke platform is replicating in Bolivia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks2 records

Key highlights7 records

Customer concentration

• Xx.com/BancoSol
• Facebookfacebook.com/BancoSolidarioBolivia

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BancoSol S.A.