Kuwaiti banks increase industrial sector financing by 123.5% in Jan

Kuwaiti banks increase industrial sector financing by 123.5% in Jan

KUWAIT CITY, March 18: The financing provided by local banks to the industrial sector saw a significant increase in January compared to December 2023, rising by 123.5% to 148.9 million dinars from 66.6 million dinars. This surge represents a noteworthy boost in funding for industrial activities within Kuwait. Moreover, on an annual basis, this increase …

<p>The post Kuwaiti banks increase industrial sector financing by 123.5% in Jan first appeared on ARAB TIMES - KUWAIT NEWS.</p>KUWAIT CITY, March 18: The financing provided by local banks to the industrial sector saw a significant increase in January compared to December 2023, rising by 123.5% to 148.9 million dinars from 66.6 million dinars. This surge represents a noteworthy boost in funding for industrial activities within Kuwait. Moreover, on an annual basis, this increase amounted to 38.3% from 107.6 million dinars in January 2023. The rise in financing indicates a positive trend in supporting industrial development and growth in the country. Simultaneously, the accumulated balance of industry financing also witnessed growth, indicating sustained investment in the sector. The balance increased by 1.5% monthly, reaching 2.686 billion dinars in January 2024 from 2.646 billion dinars in December 2023. Despite this monthly increase, there was a 6.1%