Kafalat issued 671 guarantees in the first 3 quarters of 2014, with a total value of $87.01M, compared to 645 guarantees worth $87.43M for the same period in 2013. Correspondingly, the average value per loan edged down from $135,550 by September 2013 to $129,672 this year.
The three sectors to benefit the most from loans were agriculture, industry and tourism, with respective shares of 47.39%, 34.58%, and 12.07% for the first nine months of 2014. The agriculture and industry sectors recorded the largest increase in guarantees with the latter number increasing by 56 to reach 318, while guarantees increased by 6 for the industrial sector. The number of guarantees in the tourism sector actually declined by 28 to attain 81, caused by the poor political and economic stability.
As for the regional breakdown, Mount Lebanon continued to grasp the majority of guarantees, with a 43.22% share, followed by respective shares of 18.63% and 12.07% for the Bekaa and South regions. The guarantees issued in Mount Lebanon bumped up to 290 guarantees, from a previous 257, while the Bekaa and the South witnessed declines by September 2014 from 141 and 82 guarantees to 125 and 81 guarantees, respectively, for the same period in 2013. In September alone, Kafalat issued 87 guarantees, representing a 17.92% drop from 106 guarantees in the same month last year.
The value of loans guaranteed by Kafalat totaled $10.96M in September 2014, down from $12.38M in September 2013. Accordingly, the average value per loan stood at $125,992 up from $116,785 per loan in September 2013.
Breakdown of Kafalat Guarantees by Sector in September
