KCB is­sued KD 47.8m worth of loans: Data

Kuwait Times - - BUSINESS -

The num­ber of loans is­sued by Kuwait Credit Bank (KCB) has amounted to 651 worth of KD 26 mil­lion dis­bursed in Oc­to­ber and KD 21.8 mil­lion to be paid in the fu­ture, KCB lat­est sta­tis­tics showed yes­ter­day. These fi­nan­cial ad­vances in­clude real es­tate, women, port­fo­lio loans as well as grants. The sta­tis­tics in­di­cated that 42 loans were ap­proved to build pri­vate hous­ing units: KD 2.1 mil­lion was paid and KD 2.5 mil­lion will be spent.

It added that 135 loans were also is­sued to build gov­ern­ment hous­ing units: KD 14.4 mil­lion was dis­bursed and KD 9.2 mil­lion will be paid. It also said that 65 loans were al­lo­cated to buy­ing houses: KD 2.8 mil­lion for past pur­chases and KD 4.3 mil­lion for fu­ture pur­chases. Ex­pan­sion and ren­o­va­tion for pri­vate res­i­dence have been as­signed 12 loans: KD 255,800 was paid and KD 285,500 to be paid.

Ex­pan­sion and ren­o­va­tion for gov­ern­ment res­i­dence in­cluded 142 loans: KD 4.3 mil­lion paid and KD 3.5 mil­lion to be spent. Two loans were ap­proved to fi­nance con­crete houses: KD 25,000 was paid and KD 15,000 to be paid. Loans for peo­ple with dis­abil­i­ties amounted to 223 with KD 1.9 mil­lion paid and KD 1.9 mil­lion to be paid.

Port­fo­lio loans, mean­while, reached 24 with KD 283,400 that was spent and KD 218,300 which will be paid. Kuwait Credit Bank (KCB) is a fi­nan­cial in­sti­tu­tion wholly owned by the State of Kuwait, spe­cial­ized in grant­ing so­cial loans and mort­gages to Kuwaiti cit­i­zens. The ob­jec­tive has been to pro­vide a con­ve­nient and sim­pli­fied au­to­mated loan ap­pli­ca­tion process for cit­i­zens. — KUNA

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