KCB issued KD 47.8m worth of loans: Data

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