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Kuwaiti credit rate rises to KWD 453m in June

Kuwaiti credit rate rises to KWD 453m in June
Photo Credit: Arabianeye-Reuters

The credit sector in Kuwait witnessed a strong growth to KWD 453 million in June 2015, while the annual slightly grew 5.2%, according to a report issued by the National Bank of Kuwait (NBK).

Personal loans kept its level high at KWD 115 million, recording an annual rise of 12.3%.

NBK’s report noted that the credit granted to non-banking financial corporations retreated by KWD 6 million, falling 7.4% from its level in 20105.

Credit resulted from securities loans surged by KWD 206 million, however, it remained declining on an annual basis by 2.5%.

Personal deposits leveled down by KWD 14 million; as the deposits in Kuwaiti Dinar increased KWD 64 million, while deposits in foreign currencies plunged by KWD 77 million.