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Kuwait credit value rises 3.3% in February

Kuwait credit value rises 3.3% in February
Photo Credit: Arabianeye-Reuters
KFH
KFH
-0.37% 800.00 -3.00

Mubasher: The banks in Kuwait posted a growth of 3.3% in credit value at KWD 34.4 billion in February; the lowest credit growth in five years, according to a recent report issued by Kuwait Finance House (KFH).

The granted loans edged up by 0.6% in February when compared to KWD 34.2 billion in January.

The personal granted loans rose by 2.8% on an annual basis to KWD 14.4 billion, forming 41.8% of the overall credit value, KFH’s report said.

On the sector level, the oil and gas segment posted a year-on-year surge of 86.5% to KWD 1.2 billion in February, accounting for 3.5% of the total granted loans.