KUWAIT CITY, July 29: During the first half of the year total deposits from residents increased by approximately 1.98 percent, reaching 47.839 billion dinars by the end of last month. This was a rise from 46.91 billion dinars at the end of December 2022, and an annual increase of around 1.55 percent compared to the level at the end of June the previous year, which was 47.108 billion dinars, reports Al- Rai daily. According to the monthly statistics issued by the Central Bank of Kuwait, the Al-Rai daily said, deposits of public institutions decreased by about 9.95 percent during the first half, amounting to 6.085 billion dinars, down from 6.757 billion at the end of the previous year. On the other hand, government deposits increased by 16.05 percent, reaching 3.876 billion dinars, compared to 3.34 billion in the previous year by the end of December 2022.

Deposits
Private sector deposits totaled approximately 37.876 billion dinars at the end of last month, marking a 2.89 percent increase during the first half compared to 36.812 billion dinars at the end of last year. Among these, private sector deposits in dinars increased by 3.34 percent, going from 35.037 billion dinars to 36.206 billion dinars. However, deposits in foreign currencies decreased by about 5.92 percent, declining from 1.774 billion dinars to 1.669 billion dinars.

On the subject of credit facilities, the total credit extended to residents and non-residents amounted to about 52.983 billion dinars at the end of June, showing a 1.02 percent increase during the first half compared to 52.447 billion at the end of December of the previous year. Moreover, this represented a 3.93 percent increase on an annual basis, compared to the figure of 50.981 billion dinars recorded in June the previous year. Personal facilities experienced a slight decline in June, amounting to 18.485 billion dinars, which is a decrease of 0.08 percent compared to May when it was 18.499 billion dinars.

However, they recorded a marginal increase of 0.04 percent during the first 6 months of the year, compared to their level at the end of last year, which was 18.477 billion dinars. Consumer loans saw a decline of about 0.41 percent in June, with a value of 1.941 billion dinars, compared to 1.949 billion in May. This led to a 1.32 percent decrease during the first half, compared to the end of December of the previous year when it was 1.967 billion dinars. Housing loans also experienced a slight decline on a monthly basis, dropping by about 0.006 percent to reach 15.826 billion dinars in June, compared to 15.827 billion in May.

However, they witnessed a 0.55 percent increase during the first 6 months of the year compared to their level at the end of last year when it was 15.74 billion dinars. Regarding loans for the purchase of securities (shares), their total value reached about 3.25 billion dinars at the end of June, indicating a 1.25 percent increase during the first half compared to 3.291 billion at the end of December 2022. Notably, loans for purchasing shares by individuals decreased by about 9.94 percent, reaching 1.187 billion dinars, down from 1.318 billion at the end of the previous year, but corporate equity loans increased by 4.56 percent, rising from 1.973 billion dinars to 2.063 billion. Loans from non-bank financial institutions (investment companies) increased significantly by 20.55 percent during the first half, reaching 1.912 billion dinars at the end of June, compared to 1.586 billion at the end of the previous year.