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Kuwait’s loan percentage surges to 5.5-6%, totaling KD 9.3 billion

20.4% of the total facilities totaling KD 45.6 billion were granted to residents and non-residents by the end of April last year.

  • Second were loans at 5.5-6%, making up 16.9% of total facilities at KD 7.7 billion. Third were loans at 4.5-5%, accounting for 13% at KD 5.95 billion.

  • The balances of five tranches of loans granted by banks to residents and non-residents witnessed a decline of KD 1.359 billion during the first four months of this year.

  • Interest-free loans decreased by 2.7%, or KD 30.5 million, during the first four months of the current year, reaching KD 1.08 billion by the end of April 2024 compared to KD 1.11 billion at the end of December 2023.

  • Loan facilities granted with interest rates greater than 5.5% and up to 6% decreased by 8.4%, amounting to KD 708 million, reaching KD 7.7 billion by the end of April 2024, compared to KD 8.4 billion by the end of December 2023.

The highest percentage of loans in Kuwait were issued with interest rates between 5.5% and 6%, totaling KD 9.3 billion. This represents 20.4% of the KD 45.6 billion in total facilities granted to residents and non-residents by the end of last April, according to official data reviewed by Al-Anba newspaper.

In second place were loans granted with interest rates between 5.5% and 6%, accounting for 16.9% of the total facilities granted, amounting to KD 7.7 billion.

In third place were loans with interest rates between 4.5% and 5%, accounting for 13% of the facilities granted, amounting to KD 5.95 billion.

Fourth place was occupied by loans with interest rates between 6% and 6.5%, which accounted for 9.9% of the facilities, worth KD 4.5 billion.

Fifth place went to loans with interest rates between 6.5% and 7%, accounting for 9.09% of the facilities, worth KD 4.14 billion. Seventh place was taken by loans with interest rates between 4% and 4.5%, which accounted for 8.4% of the facilities, worth KD 3.83 billion.

Regarding the change in the value of loans, the data showed that the balances of five tranches of loans granted by banks to residents and non-residents witnessed a decline of KD 1.359 billion during the first four months of this year. This may be a partial indicator of the value of repayment and rescheduling operations in those tranches.

The balances of the cash portion used from credit facilities in Kuwaiti dinars for residents and non-residents, according to the interest rate at the level of local activity related to the activity of local banks and their branches inside Kuwait, showed an increase in seven loan segments with a total value of KD 1.83 billion during the period from January 1 to the end of April 2024.

Interest-free loans fall 2.7%

Interest-free loans decreased by 2.7%, or KD 30.5 million, during the first four months of the current year, reaching KD 1.08 billion by the end of April 2024 compared to KD 1.11 billion at the end of December 2023.

Credit facilities with interest rates up to 3% decreased by 4.44%, or KD 112.7 million, during the first four months of the current year, reaching KD 2.4 billion by the end of April 2024 compared to KD 2.53 billion at the end of December 2023.

Loans granted with interest rates from 4% to 4.5% decreased by 4.95%, amounting to KD 199.7 million, reaching KD 3.83 billion by the end of April 2024, compared to KD 4.03 billion by the end of December 2023.

Credit facilities with interest rates greater than 4.5% and up to 5% decreased by 4.9%, amounting to KD 308.2 million, reaching KD 5.9 billion by the end of April 2024, compared to KD 6.26 billion by the end of December 2023.

Loan facilities granted with interest rates greater than 5.5% and up to 6% decreased by 8.4%, amounting to KD 708 million, reaching KD 7.7 billion by the end of April 2024, compared to KD 8.4 billion by the end of December 2023.

Credit facilities increased

In a related context, credit facilities granted with interest rates greater than 3% and up to 3.5% increased during the first four months of the current year by 2.4%, amounting to KD 33 million, reaching about KD 1.38 billion at the end of April, compared to KD 1.35 billion at the end of December 2023.

Loans with interest rates greater than 3.5% and up to 4% increased by KD 144 million, an increase of 12.1%, reaching KD 1.33 billion by the end of last April compared to KD 1.19 billion by the end of December 2023.

Credit facilities granted with interest rates greater than 5% and up to 5.5% increased by KD 323.9 million during the first four months of the current year, an increase of 3.6%, reaching KD 9.3 billion by the end of April 2024, compared to KD 8.98 billion by the end of December 2023.

Loans granted with interest rates greater than 6% and up to 6.5% grew by 9.12%, amounting to KD 378.1 million during the first four months of the current year, reaching KD 4.5 billion by the end of April, compared to KD 4.14 billion by the end of December 2023.

Loans with interest rates greater than 6.5% and up to 7% increased by KD 107.7 million, an increase of 2.66%, reaching KD 4.147 billion by the end of April, compared to KD 4.04 billion by the end of December 2023.

Credit facilities granted with interest rates greater than 7% and up to 7.5% during the first four months of this year recorded the highest volume and increase rate, rising by KD 686.8 million, an increase of 35.15%, to reach about KD 2.64 billion by the end of April, compared to KD 1.95 billion by the end of December 2023.

Loans granted with interest rates greater than 7.5% increased by 15.2%, with a value of KD 166.1 million dinars, reaching KD 1.25 billion by the end of April, compared to KD 1.08 billion by the end of December 2023.





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