|04 October, 2019

Kuwaiti banks’ foreign assets grow over 7% in August

The Central Bank of Kuwait’s total asset rose to $36.37bln in August

View of Kuwait Central Bank building from across the fish market marina where old fishing boats are standing, Kuwait City - June 17, 2016. Image used for illustrative purpose.

View of Kuwait Central Bank building from across the fish market marina where old fishing boats are standing, Kuwait City - June 17, 2016. Image used for illustrative purpose.

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The Kuwaiti banking sector’s net foreign assets increased by 7.08% year-on-year to KWD 18.61 billion ($61.33 billion) in August 2019.

Month-on-month, net foreign assets at Kuwait-based banks grew 0.7% from KWD 18.48 billion in June, according to data released by the Central Bank of Kuwait (CBK).

The CBK’s total asset rose by 6.08% year-on-year to KWD 11.07 billion in August, rising 0.36% month-on-month.

Foreign assets at the CBK increased by 4.34% year-on-year in August to reach KWD 10.83 billion, declining 0.37% month-on-month.

Moreover, Kuwaiti banks’ total assets jumped 7.46% to KWD 69.15 billion in the eighth month of 2019, compared to KWD 64.35 billion in the year-ago period.

Foreign assets at local banks went up by 19.17% year-on-year, 3.74% month-on-month, to KWD 15.54 billion in August.

Source: Mubasher

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