KUWAIT CITY: Twelve companies and factories have, since 2015 until date, failed to repay industrial loans to the Industrial Bank of Kuwait (IBK) believed to be in the amount of 58.5 million dinars, reports Al-Anba daily quoting reliable sources.

The sources stated the faltering clients vary between investors, contractors, electrical equipment industry, food and beverage industries, and the manufacturers of shoes and furniture.

The daily added, the biggest defaulter in the investment sector which owns the bank a debt of 14.4 million dinars, followed by the factory sector 13.9 million dinars including one of the factories specialized in the chemical materials and then the products sector with a debt of 11.89 million (metal industries sector).

© 2021 Arab Times Kuwait English Daily. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.