Mubasher: Kuwaiti banks' credit facilities to real estate and construction firms listed in the third quarter ended September 30, 2017 surpassed KWD 10 billion, the Kuwait Finance House (KFH) said in a report.
The credit facilities to the two sectors declined 0.5% in the same period compared to the second quarter of the year on the back of 2.7% drop in facilities granted to the construction sector, while credit facilities to real estate firms exceeded KWD 8 billion by the end of September quarter, according to KFH’s data.
Banks' facilities to real estate and construction sectors fell 0.5% year-on-year as facilities granted to the construction sector slumped 5.9%, while credit facilities to the real estate sector increased 1% in Q3-17 versus the same period last year, the report said.
Moreover, the personal credit facilities hiked 2.4% to up to KWD 10.7 billion in Q3-17 from a quarter earlier. Banks offer facilities to individuals who want to build units in the private housing sector.
