KUWAIT, Jan 12 (KUNA) -- Kuwait Finance House (KFH) said that credit from the Kuwaiti banking sector rose by three percent in November.
The volume of credit granted last November was KD 36.6 billion (USD 119 billion) compared to KD 35.5 billion (USD 116 billion) in November 2017, KFH said in a report issued Saturday.
The assets of personal credit facilities achieved the highest rise in value in November to reach about KD 589.4 million (USD 1.9 billion), an increase of four percent compared to November 2017, it added.
It noted that the credit facilities amounted to KD 15.5 billion (USD 50.9 billion), representing 42.5 percent of the total credit granted last November.
The statement pointed out that the facilities for the crude oil and gas sector increased by 4.14 KD billion (USD 1.4 billion) by 32.6 percent while the facilities for the industry sector grew by KD 37.2 million (USD 122 million).
The decline in the facilities directed to some economic sectors on an annual basis and financial institutions other than the banks, the highest recorded a decline in value by about KD 173.8 million (USD 3. 571 million) by 13.3 percent, the statement said.
It noted that the personal credit facilities constitute the largest share of the volume of credit facilities, accounting for 42.5 per cent of the total credit granted in November compared to 42.1 per cent in November 2017. (end) ad.aa
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