Annual Report 2023

22. Guarantees

The bank guarantees are as follows:

 

 

2023

 

2022

Guarantees for Tax Authorities

 

46,998

 

37,576

Financing bank guarantees

 

344,755

 

114,739

Other guarantees provided

 

1,774

 

1,726

Total

 

393,527

 

154,041

The financing bank guarantees respect to financial loans obtained by the subsidiary Jerónimo Martins Colombia, S.A.S.. These guarantees will be released following the guaranteed loans reimbursement.

JMH also guarantees the fulfilment of some financial obligations of Group’s subsidiaries, with this commitment amounting to €394,121 thousand as of 31 December, 2023, relating to liabilities recognized in the Balance Sheet of the respective subsidiaries.

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