Kafalat loans increase by 15.21% since the start of 2014 and focus on the agricultural and industrial sectors

Kafalat released its most recent statistics for the month of May which show a 15.21% increase in the number of new credits provided by the company.  Indeed, 356 loans were approved during the first five months of the present year compared to 309 for the same period last year.  The statistics also show an increase in the total value of Kafalat loans by 5.98%, reaching LBP 67.43 billion, the equivalent of USD 44.73 million, during the same period, compared to LBP 63.63 billion, the equivalent of USD 42.20 million for the same period of last year.  However, the data also show a slight decrease in the average size of each loan which averages LBP 189.42 million or USD 125650.  The highest proportion of credits went to the agricultural sector (50.48%) followed by industry (33.99%) and tourism (8.99%). With regards to geographical distribution, the data shows that most loans went to Mount Lebanon (42.42%) followed by Beqaa (20.51%), Nabatieh (10.96%), North Lebanon (10.67%), South Lebanon (10.11%) and finally Beirut (5.34%).
Source: Al-Safir 24 June 2014