Complex Made Simple

Drop recorded in loans to Lebanese SMEs

Lebanon’s state-run Kafalat Corp, which provides subsidised loans to small and medium enterprises through local banks, has said its profits at the end of the year are expected to see a slight drop, due to fall in the value and volume of loans, The Daily Star has reported. “Our profits this year are expected to fall to $6m or $7m from the $9.5m we made in 2012,” said Kafalat president, Khattar Bou Habib. “Nevertheless we are going to make a profit despite the fall in loans to the clients,” said Bou Habib.