The Jordan Loan Guarantee Corporation continued to achieve strong results at the end of the third quarter of 2024, supported by growth in the volume of guarantees provided under its main programs: Loan Guarantee, Export Credit Guarantee and Domestic Sales. Total revenues increased by 7% to reach 36.6 million dinars during the first nine months of 2024.
While the company achieved a growth in net profits after tax by 24%, as net profit amounted to 2.6 million dinars during the first nine months of 2024 compared to 2.1 million dinars during the same period in 2023. The company also maintained a strong financial position, with equity amounting to 43.9 million dinars, while the company's total assets amounted to approximately 758 million dinars as of the end of September 2024.
Commenting on these results, Dr. Adel Al-Sharkas, Chairman of the Board of Directors of the company, stated that the results of the third quarter of 2024 are in line with the company's strategy in managing guarantee programs and enhancing the company's role in supporting financial inclusion, in addition to the company's commitment to its main role in supporting small and medium enterprises, entrepreneurial projects and national exports.
For his part, the company's Director General , Mr. Adnan Naji, explained that the company continues to achieve operational performance that reflects its role in supporting sustainable economic growth in the Kingdom, noting that the company provided guarantees for approximately 1,221 loans by the end of the third quarter of 2024, with a value of approximately 129 million dinars, including 151 emerging projects with a value of 12.8 million dinars. Approximately 1,326 projects have benefited from the Micro-Enterprise Guarantee Program since its launch two years ago until September 30, 2024, and the value of the financing implemented through it amounted to approximately 10.4 million dinars.
The company also continued its activity in the Export Credit Guarantee Program and Domestic Sales during the first nine months of 2024, where it granted guarantees for approximately 3,776 export shipments and local sales with a guaranteed value of 137 million dinars. The company has been able to expand the number of Jordanian companies benefiting from the program's services from various sectors, bringing the number of existing policies to 114, with sales directed to 646 buyers in 60 countries around the world.
Naji stressed that the company is committed to continuing to work on the digital transformation project for the third year in a row and providing digital solutions for all its businesses and tasks with the aim of enhancing innovation, reducing costs and risks, and enhancing its ability to grow sustainably, in addition to activating its role in the field of social and environmental responsibility.
