Another record quarter, total underwriting exceeded $2.9 million in the second quarter of 2019 comprising a 30% increase from the same period in 2018. We have also achieved a tremendous increase in the volume of retail lending.
Lending in the Second Quarter of 2019
Supported 215 jobs in Jordan
Generated $818 thousand in income for Jordanians
Generated $5.8 million in output to the Jordanian economy
Operations and Growth
$2.9 million lent across 63 loans
5 new employees joined liwwa
$24.2 million lent across 594 loans since inception
Our Best Moment
We are happy to announce that we have launched in Egypt and will aim to underwrite our first loan in that market soon.
Data Science and Technology Updates
Our Data Science and Technology teams are working on a major update to liwwa’s credit scores. The new scoring is based on a Cox Proportional Hazards model, also known as a survival model, which has been developed using historical data from previous loans. The new credit scoring system provides investors with more granular ratings, giving each loan a letter score from A (lowest risk) to E (highest risk). This will allow us to adjust loan pricing to credit risk in a more nuanced way, and will offer investors more refined choices among risk levels. The new system is expected to be launched in the third quarter of this year.