Kafalat Guarantees Dipped to $109.55M in 2014

Kafalat issued 838 guarantees during 2014, with a total value of 109.55M, compared to 871 guarantees worth $118.16M in 2013. Hence, the average value per loan edged down from $135,664 in 2013 to $130,731 this year.

Agriculture was the main sector to benefit from Kafalat guarantees with a share of 47.61%, followed by industry and tourism, with respective shares of 35.20% and 11.69%. The guarantees of the agriculture and industry sectors increased 25 guarantees and 2 guarantees to 399 and 295, respectively.  Meanwhile guarantees in the tourism sector declined by 44 to reach 98, caused by the poor political and economic environment.

As for the regional breakdown, Mount Lebanon continued to grasp the majority of guarantees, with a 42.24% share, followed by respective shares of 20.17% and 11.81% for the Bekaa and South regions.  The guarantees issued in Mount Lebanon rose up to 354 guarantees, from a previous 348, while the Bekaa and the South witnessed declines from 188 and 117 guarantees to 169 and 99 guarantees, respectively, by end of 2014.

In December alone, Kafalat issued 42 guarantees, down from 74 guarantees in the same month last year. The value of loans guaranteed by Kafalat totaled $6.27M in December 2014, compared to $10.7M in December 2013. Accordingly, the average value per loan stood at $149,315 up from $144,146 per loan in December 2013.

Leave a Reply

Your email address will not be published. Required fields are marked *