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Loans to Kuwait’s residents reach $123.7bn in May

Loans to Kuwait’s residents reach $123.7bn in May
Personal loans recorded KWD 15.89 billion in May

Mubasher: Loans granted to residents in Kuwait rose to KWD 37.57 billion ($123.77 billion) in May, compared to KWD 35.43 billion ($116.72 billion) in the year-ago period.

On a monthly basis, loans granted to residents in the GCC country went up 1.1% in May from KWD 37.16 billion in April, according to the Central Bank of Kuwait (CBE).

Personal loans recorded KWD 15.89 billion in May, while mortgage and business loans registered KWD 8.44 billion and KWD 3.42 billion, respectively, during the same month.

Net assets of Kuwaiti banks grow 4.4% year-on-year in May, recording KWD 18.51 billion ($61 billion).