Kuwait - Mubasher: Kuwait’s banking credits grew 7.2% per annum in May, totalling KWD 33.6 billion, according to a report by Kuwait Finance House (Baitak) released on Sunday.
Domestic credits grew in May by KWD 31 million compared to April, as personal loans constituted 41.9% of the crediting, exceeding KWD 14 billion, with an annual growth of 11%, the report indicated, according to Kuwait news Agency (KUNA).
Property accounted for 29.5% of the total credits, while commercial crediting represented 9.3% with an annual growth rate of 7%.
Credits for industries exceeded KWD 2 billion, rising 18.3% year-on-year and 2.4% month-on-month, making 6.1% of the overall crediting operations.
As for the oil sector, it posted KWD 625 million in banking credits in May, while agriculture registered more than KWD 15 million.
