Consumer, house financing loans to Kuwaitis amount to $47.90bln

Consumer, house financing loans to Kuwaitis amount to $47.90bln

KUWAIT CITY - Kuwaiti borrowers who have a consumer loan and a housing loan at the same time constituted 21 percent of the total borrowers at the end of last year, reports Al-Rai daily.

The sources pointed out that the value of personal loans granted to Kuwaitis, which consist of consumer and housing financing, was more than 14.72 billion dinars at the end of last year (excluding December 2022), without calculating interest.

Sources close to the daily revealed, the portfolio of personal loans for citizens is distributed over more than 625.3 thousand loans, which include approximately 517 thousand customers, consisting of 232.815 thousand consumer loans with a value of more than 1.747 billion dinars, in addition to 392.51 thousand housing loans with a value of more than 12.974 billion dinars.

Classification

The sources pointed out that according to the classification there are 7 segments of customers’ salaries, the lowest of which is the category of citizens who borrow and whose incomes start from 500 dinars or less, and their number is about 7,018 thousand customers, constituting 3.01 percent of the total consumer loans, while exceeding the balance of their financing excluding interest of more than 38.743 million dinars.

As for the sixth category, it includes