June 24, 2021

1.727 billion dinars, a decline in deposits in 4 months


600 million dinars in new loans since the beginning of the year
– 379 million growth in personal credit facilities
– 340 million increase in “instalments” and 11 million in “consumer”

The total credit facilities granted by local banks amounted to about 40.381 billion dinars at the end of last April, registering an increase on a monthly basis by about 201 million (+0.5 percent) compared to its level at the end of March of 40.18 billion, while its growth reached 600 million since the beginning of this year ( +1.51 percent) compared to 39.781 billion at the end of December 2020, while on an annual basis, credit facilities increased 1.126 billion (+2.87%) compared to April of last year, when its balance amounted to 39.255 billion dinars.

The monthly statistics issued by the Central Bank of Kuwait yesterday showed that total deposits decreased by 336 million dinars (-0.77%) in April 2021 compared to last March, from 43.884 billion dinars to 43.548 billion, bringing the drop in deposits in the first four months of the year. The current deposits reached 1.727 billion (-3.81 percent) compared to 45.275 billion at the end of last December, while the decline in deposits amounted to about 537 million (-1.22 percent) compared to their balance at the end of April 2020, which amounted to 44.085 billion dinars.

sector deposits

Government deposits amounted to about 7.091 billion dinars in April, a decline of 197 million (-2.7 percent) compared to the previous month, while government withdrawals from its deposits amounted to about 852 million dinars since the beginning of this year, as those deposits decreased by -10.73% compared to its level of 7.943 billion at the end of last December. On an annual basis, government deposits fell by 575 million (-7.5 percent) compared to their level in April of last year, which amounted to 7.666 billion dinars.

The total private sector deposits recorded a decline of about 139 million dinars (-0.38%) last April to reach 36.457 billion, compared to 36.596 billion in March, while they decreased by 875 million since the beginning of this year (-2.34%) compared to 37,332. In December 2020, on an annual basis, private sector deposits registered a slight increase of about 38 million (+0.1 percent) compared to 36.419 billion in April of last year.

Private sector deposits in dinars reached 34.422 billion, down by 184 million (-0.53%) from their level in March of 36.606 billion, while recording a decline of 850 million (-2.41%) since the beginning of the year, compared to 35.272 billion in December. On an annual basis, it recorded an increase of about 452 million (+1.33 percent), from 33.97 billion in April 2020.

Private sector deposits in foreign currencies reversed their trend, achieving an increase of about KD 45 million (+2.26 percent) last April compared to the previous month, from KD 1.99 billion to KD 2.035 billion, but they remained down by about KD 24 million (-1.17 percent) since At the beginning of the year, compared to 2.059 billion in December 2020, while its decrease amounted to 414 million (-16.9%) compared to its level in April of last year of 2.449 billion dinars.

personal amenities

The Central Bank’s statistics showed a slight increase in personal credit facilities on a monthly basis by about 64 million dinars (+0.36%) to reach 17.629 billion in April, compared to 17.565 billion in March, while it rose since the beginning of the year by about 379 million (+2.2%). Compared to 17.25 billion in December 2020, it recorded a growth of 1.26 billion (+7.7 percent) compared to its level in April of last year of 16.369 billion dinars.

Installment loans rose by about 111 million dinars (+0.86 percent) in April compared to March, from 12.94 billion to 13.051 billion, while witnessing a growth of 340 million dinars since the beginning of 2021 (+2.67%) compared to 12.711 billion at the end of last year. On an annual basis, installment loans recorded an increase of about 1.152 billion (+9.68 percent), compared to 11.899 billion in April 2020.

As for consumer loans, they amounted to 1.618 billion dinars at the end of last April, an increase of 14 million (+0.87%) compared to 1.604 billion in the previous month, while it recorded an increase of about 11 million (+0.68%) since the beginning of the year compared to 1 .607 billion in December 2020, while on an annual basis, it witnessed an increase of about 148 million (+10.07 percent) compared to its level in April of last year of 1.47 billion dinars.

Securities purchase loans recorded a decline of 108 million dinars (-4.04 percent) during last April on a monthly basis, to reach 2.566 billion, compared to 2.674 billion in March, while their decline amounted to 13 million (-0.5 percent) since the beginning of the year, compared to 2. 579 billion at the end of last year, while on an annual basis, it decreased by 53 million (-2.02 percent), compared to 2.619 percent in April 2020.

Other sectors

Real estate loans witnessed an increase of 0.14 percent on a monthly basis, 0.74 percent since the beginning of the year and 2 percent on an annual basis, to reach 9.294 billion dinars at the end of last April, while loans to the construction sector witnessed a decrease of 1.04 percent on a monthly basis. And 3.11 percent on an annual basis to reach 1.899 billion in April, while it recorded a slight growth compared to its level at the end of last year, amounting to 0.53 percent.

The industrial sector loans amounted to about 2.196 billion at the end of April 2021, an increase of 4.32 percent compared to the same month last year, and 6.71 percent compared to its level in December 2020, while on a monthly basis, its increase amounted to 2.33 percent, while credit facilities for the trade sector witnessed , an increase of 1.25 percent on a monthly basis, and a decline of 0.88 percent since the beginning of the year, and its decline reached 9.65 percent on an annual basis, to record 3.25 billion dinars at the end of last April.

As for the loans provided to the crude oil and gas sector, they rose by 0.35 percent compared to last March, reaching 1.979 billion dinars at the end of April, while recording an increase of 5.77% since the beginning of the year and 6.68 percent compared to April 2020.

20.8% decrease in loans to investment companies

On an annual basis, loans provided to non-bank financial institutions (investment companies) decreased by about 20.8 percent, from 1.185 billion dinars in April 2020 to 938.6 million at the end of last April. The decline in these credit facilities amounted to 1.47% on a monthly basis, while they fell by 5.22 percent since the beginning of the year.

Leave a Reply

Your email address will not be published. Required fields are marked *