Bank credit saw a noticeable increase in November following a large drop in October, which further bolsters credit growth in 2012 that has generally been stronger than the previous year, a National Bank of Kuwait (NBK) report said Tuesday.
Growth has been largely driven by personal facilities while corporate credit has remained relatively subdued. Credit to the non-bank financial sector continued to weigh down on total credit, the report noted.
Outstanding credit to residents rose by KD 188 million in November following a large drop last month. Total credit is up a good KD 1.3 billion year-to-date (ytd) and year-on-year growth is now 5.2 percent.
Kuwait- Credit bounces back in November, year-end credit growth seen near 5.5 pct - MENAFN
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