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Kuwaiti lenders seen to post 7% in credit growth this year

National Bank of Kuwait (NBK) has said bank credit in the country is expected to register a growth of 7% or more in 2013, the strongest since 2009, Kuna has reported. "Total bank credit rose by KD189m in June to KD28bn, with year-on-year (y/y) credit growth slipping slightly from last month to 6.2%," said the NBK report. "Total credit was up KD1.17bn so far this year, compared with an increase of only KD749m during the first half in 2012. Annualised growth in the first six months of this year reached 8.9%, up from 5.9% a year ago," the lender said.