Kuwait Finance House: Credit activity rises by 5.4% in October

Local credit activity rose by 5.4 percent last October, compared to the same month last year, to hit KD 30.4 billion, Kuwait Finance House (KFH) has said.
This is down by 1 percent compared to last September, the KFH report on October credit market added on Friday.
The share of the October credit activity of the official total and the private sectors deposits, about KD 36.7 billion, relatively fell to 82.8 percent, KFH added.
Local currency deposits rose in October by KD 87 million to KD 28.9 billion, while private sector's foreign deposits dropped by 4.5 percent to about KD 2.5 billion.
According to the report, personal loans remained unchanged in October, at about 39.9 percent of credit activity, followed for the second successive month by real estate and construction with 32.2 percent. The trade sector credit increased by 9.6 percent.
The industrial sector's share of local credit activity saw no change in October and stood at 6 percent, as that of the non-bank financial institutions declined to 4.6 percent. Crude oil and gas sector had 1.1 percent of the activity.