Credit facilities for banks soars to 1.6 billion dinars

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KUWAIT CITY, Jan 5: In an indication of the relative improvement of economic activity in the country, the credit facilities provided by banks in the local market increased by the end of last November to 1.6 billion dinars, compared to 1.09 billion in October, while the total balance of credit facilities for banks reached 40 billion dinars.

The financial statements of the Central Bank revealed that the balance of personal facilities increased by 13.4 million dinars in November, at a rate of 3.4 percent, to record 407.6 million dinars at the end of the same month, compared to 394.2 million in October from 83.1 million dinars in October to 71.3 million dinars, the facilities provided to purchase “equity loans” securities retreated 0.2%, at a value of 6.9 million dinars, from 2.544 billion dinars in October to 2.551 billion dinars in November.

In the same context, deposits in the banking sector increased by 2 billion dinars during 11 months to reach 45.72 billion dinars, while private sector deposits in banks decreased by 0.8%, at a value of 327 million dinars, from 38.164 billion dinars in October to 37.837 billion dinars in November. The government increased 262 million dinars in November to 7.8 billion dinars.

By Ahmed Fathi Al-Seyassah Staff

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