Kuwait credit activity up 7.7% in September

Credit market activity in Kuwait jumped by 7.7 percent or KD 2.2 billion last September compared with the same month last year, making the size of credit availability reach KD 30.6 billion, said a report by KFH on Friday.
It added that local bank deposits in KD diminished slightly last Sept. to reach KD 28.8 billion whereas deposits in foreign currencies were reduced to the level of KD 2.6 billion.
Personal credit improved last Sept. forming 39.9 percent of the total credit market for that month, followed by credit in the real estate sector and the construction sector, forming a combined 32.2 percent of the credit load, said the report.
The size of credit given to the gas and oil sector saw some reduction for the third time this year, settling at KD 299 million last Sept., said the report.