Kuwaiti banks’ credit growth hits record levels in February

Kuwaiti banks’ credit growth hits record levels in February

While the installment loans granted to Kuwaitis for renovating or purchasing private housing increased by more than 0.68% during February to reach KD 14.6 billion, compared to KD 14.5 billion last January.

It also recorded a strong annual growth of 13.5% compared to the levels of February last year of KD 12.864 billion.

Loans directed towards the purchase of securities also increased, with a monthly increase of 5.1%, to record a level of KD 2.910 billion during during February, compared to KD 2.769 billion last January.

It also recorded an annual increase of 15.43% compared to its levels in February of last year, which amounted to KD 2.521 billion.

The oil and gas sector also witnessed a monthly increase of 0.86% to record the level of KD 2,220 billion during during February, compared to KD 2.201 billion last January, and it recorded an annual increase of 15.8% compared to the levels of February of 2021, which was KD 1.917 billion.

On the level of deposits, the Central Bank data showed that the deposits of the banking sector rose by 0.38% to reach KD 45.46 billion during February, compared to KD 45.29 billion at the end of last January, and compared to their levels in February