This article aims at analyzing financial investments from a risk point of view. The analysis is carried out by specifying, first, several financial operations typical of banking on a smaller scale, such as investing and extending credit and, second, several types of risk inherent in these activities. The risks are grouped into four criteria, operational risk, financial risk, management risk and external risk. The analysis is conducted using the PROMETHEE multi-criteria decision methodology. Professionals in risk management are trying to better appreciate the complexity of the financial activities under study, and have used complex models to do so, but nonetheless many risks are still not well understood. This article contributes to the risk analysis, delivering results that will help many financial institutions to improve the management of their financial operations, including micro-finance.