Consumer, house financing loans to Kuwaitis amount to $47.90bln

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KUWAIT CITY - Kuwaiti borrowers who have a consumer loan and a housing loan at the same time constituted 21 percent of the total borrowers at the end of last year, reports Al-Rai daily.

The sources pointed out that the value of personal loans granted to Kuwaitis, which consist of consumer and housing financing, was more than 14.72 billion dinars at the end of last year (excluding December 2022), without calculating interest.

Sources close to the daily revealed, the portfolio of personal loans for citizens is distributed over more than 625.3 thousand loans, which include approximately 517 thousand customers, consisting of 232.815 thousand consumer loans with a value of more than 1.747 billion dinars, in addition to 392.51 thousand housing loans with a value of more than 12.974 billion dinars.

Classification
The sources pointed out that according to the classification there are 7 segments of customers’ salaries, the lowest of which is the category of citizens who borrow and whose incomes start from 500 dinars or less, and their number is about 7,018 thousand customers, constituting 3.01 percent of the total consumer loans, while exceeding the balance of their financing excluding interest of more than 38.743 million dinars.

As for the sixth category, it includes clients with salaries ranging from 501 to 1000 dinars, amounting to 52.76 thousand, constituting 22.66 percent, with financing amounting to more than 298 million dinars. In fifth place are borrowers with salaries ranging from 1,001 to 1,500 dinars and their number reaches 79,939 thousand clients, equivalent to 34.34 percent of the total consumer loan portfolio, with a balance of more than 601 million dinars, while borrowers with salaries ranging from 1,500 dinars up to 2000 dinars lead the pack and are ranked fourth with 44,018 thousand customers, representing 18.91 percent of the total consumer loan portfolio, with loans amounting to more than 314.49 million dinars.

In third place are borrowers whose salaries range from 2001 to 2,500 dinars, reaching 23,661 thousand customers, or 10.16 percent, with loans of approximately 206.205 million dinars. In the second place are the borrowers, whose salary scale starts from 2501 to 3 thousand dinars, and they number 11,513 thousand, constituting 4.95 percent of the total consumer loans, with a value of loans (without interest) amounting to 117.88 million dinars. At the top of the consumer portfolio in terms of borrowers, whose salary amounts to 3001 dinars; they number 13,902 thousand, constituting 5.97 percent, with loans granted to them at 170.39 million dinars.

As for the housing loan portfolio, it also includes 7 salary segments, the least number of them are those with salaries that start with 500 dinars or less, as they amounted to about 2.5 percent of the total portfolio, and the number of 9,829 thousand borrowers, while their financing (without calculating interest) is close to 237.631 million dinars, and in sixth place, came clients with salaries that range from 501 to 1000 dinars, and their number reached 104,446 thousand, or 26.61 percent of the total housing portfolio, with loans exceeding 2.393 billion dinars.

In fifth place, customers who receive salaries starting with 1001 to 1500 dinars came, with a number of 137,294 thousand, or 34.98 percent, with a value of more than 4.494 billion dinars. As for the fourth, they are those with salaries between 1501 and 2000 dinars, and their percentage reaches 18.72 percent, with a number of 73.467 thousand, and a financing value of approximately 2.981 billion dinars. 8.57 percent of the total housing loan portfolio, with a value exceeding 1.421 billion dinars.