Kuwait’s CBK Chief Sees Credit Growth Constrained by Weak Demand - Bloomberg

Commercial Bank of Kuwait said it expects local credit growth to remain constrained on reduced company demand, its chief executive said.
“A lot of companies have excess capacity already and therefore they will use their existing credit lines,” Nuhad Saliba, the bank’s chief executive officer, said in an interview in Kuwait City on Nov. 26.
Borrowing by the private sector in OPEC’s third-biggest producer increased at the slowest pace in at least 17 years in 2011 as political wrangling deterred a $110 billion state development plan. The central bank on Oct. 4 cut the key interest rate by 50 basis points to 2 percent to spur growth.

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