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Kuwait’s banking credit grow 3.2% in December 2017 – KFH

Kuwait’s banking credit grow 3.2% in December 2017 – KFH
Individuals' loans recorded an increase of 4.4%
KFH
KFH
-0.37% 800.00 -3.00

Mubasher: Loans provided by banks operating in Kuwait increased by 3.2% in December 2017 compared to the same period of prior year, according to a recent report by Kuwait Finance House (KFH).

Bank loans registered KWD 35.4 billion in December 2017 compared to KWD 34.3 billion in the same month in 2016, KFH said.

On a monthly basis, the banking sector in Kuwait posted a slight rise of 0.2% in credit facilities when compared to November 2017.

KFH’s report clarified that the highest credit growth in the banking sector was achieved in December 2015 with a rise of 8.5%.

Credit facilities granted to non-bank institutions, industry, real estate and construction declined by 11.1%, 0.7%, and 0.2%, respectively.

Individuals' loans recorded an increase of 4.4% or KWD 629.2 million to KWD 15.1 billion which represents 42.6% of total credit in December 2017.