Kuwait – Mubasher: Credit activity in Kuwait’s banking sector rose by 7.2% year-on-year in September 2016 to KWD 34.8 billion, according to a report released by Kuwait Finance House (KFH).
Personal credit facilities accounted for around 41.8% of the GCC nation's credit activity and reached KWD 14.5 billion during the month, up 7.7% annually.
Meanwhile, construction and real estate accounted for 29% of Kuwait's total credit facilities, having reached a combined value of KWD 10.1 billion, registering a 1.5% year-on-year growth, KFH said in its report on Thursday.
Credit in financial non-banking institutions rose 2.7% in September from last year, reaching KWD 1.4 billion and making up 4% of the country's total facilities.
The commercial sector gained 6.1% on the year in September, representing 9.3% of credit with KWD 3.2 billion, while the industrial sector's credit facilities surged 25.1% last month, reaching KWD 2.2 billion, the report concluded.
