Kuwait's credit growth may have finished 2014 closer to 7% on a stronger December, said a specialized economic report compiled by National Bank of Kuwait - NBK.

NBK noted that , credit growth was up in November, but failed to make up for recent weakness as it ticked up to 5.9% y/y on a KWD222 million gain in lending during the month, but remained weaker than expectations.

Family Fund write-offs and a slew of corporate debt rescheduling deals have put a damper on growth in recent months, added NBK.

Gains in November were seen in household debt, as well as the oil & gas and real estate sectors. Meanwhile, strong gains in deposits drove up money supply growth to healthy levels, while deposit rates remained stable. Interbank rates, on the other hand, edged lower for the second consecutive month.