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FINANCIAL NEWS
Kuwait- Nov posts 5.2% rise in loans rate
09 Jan 2013
(MENAFN) KFH-Research’s latest report revealed that in November 2012, the growth level of loans in Kuwait rose 5.2 percent from a year earlier, up from a gain of 4.9 percent a month before, reported Arab Times.
The report showed that total loans in November grew to USD95.58 billion, with personal loans contributing the most to the figure, followed by real estate loans.
Annual growth rate for loans for 2012 is projected to reach 5.6 percent, and annual growth rate for deposits is forecasted to stand at 7.7 percent.
Total loans outstanding reached USD24.42 billion in November.
The report attributed the stronger loan growth in the month to higher loan growth in the personal division, at 12.2 percent and the real estate segment, at 4.8 percent.
On the other hand, private sector deposits, which represent 84.4 percent of total banking sector deposits, reached USD98.42 billion.
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