(MENAFN - Kuwait News Agency (KUNA)) Credit in Kuwait has grown by five percent in 2012, the best since 2009, the National Bank of Kuwait (NBK) said in a report Friday.
The report, over domestic credit market, attributed the five-percent growth to flourishing consuming credit activities and credit granted to business sector.
NBK said deposits in local currency, the Kuwaiti Dinar (KD), continued to grow coupled with high liquidity in local banks.
Money supply ended the year 2012 at a good growth rate while the (N1) money supply swelled by 6.5 percent and (N2) money supply expanded by 18 percent, it said.
Volume of credit of expatriates shed KD 24 million last December to end the year at KD 26.9 billion, said the report, although it increased by KD 1.3 billion throughout the year.
The NBK report said budgets of local banks increased by KD 3.2 billion in 2012. Foreign curreny deposits grew by KD 1.3 billion while cash deposits grew by KD 441 million.
Deposits of expatriates jumped by 6.3 percent in 2012, it added.