Kuwaiti bank assets down first time in six months

Assets decreased by 0.48% in April 2020 to $235.76bln

  
Close-up of Kuwaiti bank notes (toned). Image used for illustrative purpose.

Close-up of Kuwaiti bank notes (toned). Image used for illustrative purpose.

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Kuwait - The total assets of banks operating in Kuwait declined during April, for the first time in six months, specifically since October 2019.

Assets decreased by 0.48% in April 2020 to KWD 72.44 billion ($235.76 billion), compared with KWD 72.77 billion (236.83 billion) in March of the same year, according to data by the Central Bank of Kuwait (CBK).

On an annual basis, assets grew by 7.73%, compared to its level in April 2019 at KWD 67.24 billion.

Foreign reserve amounted to KWD 17.03 billion, decreasing by 1.50%, compared to its level in March, but increased by 20.27% compared with its level in April 2019.

Source: Mubasher

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