Kuwait’s credit growth slows in Q1
Published on: Tuesday 16 May 2023
KUWAIT: Domestic credit started the year on a relatively weak note, increasing by 0.6 percent q/q in Q1 2023, cutting the y/y increase to 5.1 percent through March. Higher interest rates, banks’ lower price competition in terms of retail lending, and normalizing growth following a very strong 2022 are some of the factors behind the softening growth so far this year.Business credit increased by 1.2 percent q/q, cutting the y/y increase to 4.2...
