Mubasher: The value of credit facilities granted by domestic banks to residents in Kuwait grew 4.6% year-on-year, 0.27% month-on-month, to KWD 37.86 billion ($124.68 billion) in August 2019, according to data released by the Central Bank of Kuwait on Tuesday.
Personal loans reached KWD 16.08 billion in August, making up 42.5% of total loans provided to residents in the GCC country, while loans granted to the real estate sector amounted to KWD 8.62 billion.
Credit facilities given to the commercial, construction, and industrial sectors hit KWD 3.39 billion, KWD 2.07 billion, and KWD 2.02 billion, respectively, during the eighth month of the year, the central bank’s data showed.
Moreover, loans secured by the oil and gas sector recorded KWD 1.61 billion, while non-banking institutions received KWD 1.06 billion in credit facilities.
Loans granted to non-residents increased by 10% year-on-year, 1.54% month-on-month, to KWD 2.64 billion in August.
The Kuwaiti foreign currency reserves grew by 4.35% year-on-year to KWD 11.553 billion ($38.08 billion) in August 2019. On a monthly basis, reserves declined by 0.30% in August, from KWD 11.588 billion in July.
