Mubasher: Credit growth has been steady in Kuwait at 8.2% year-on-year in July 2016, according to a recent report by National Bank of Kuwait (NBK)
The report said that total credit declined by KWD 116 million, which was largely due to a decrease in lending for the purchase of securities and the real estate sector, according to Kuwait News Agency (KUNA).
Similarly, private deposits saw a large decrease in July, some of which was offset by gains in government deposits, as domestic interest rates eased slightly in July, it added
The report also said that growth in household lending remained relatively subdued in July, adding KWD 55 million.
Private deposits saw a large drop in July, declining by KWD 652 million leading to a growth in broad M2 money supply down to 0.9% year-on-year.
