Mubasher: The Kuwaiti banking sector’s net foreign assets increased by 6.1% year-on-year to KWD 18.48 billion ($60.98 billion) in July 2019.

Month-on-month, net foreign assets at Kuwait-based banks inched up 0.05% from KWD 18.47 billion in June, according to data released on Wednesday by the Central Bank of Kuwait (CBK).

The CBK’s total asset grew by 5.2% year-on-year to KWD 11.03 billion in July, rising 0.55% month-on-month.

Foreign assets at the CBK increased by 4.92% year-on-year, 0.65% month-on-month, in July, to reach KWD 10.87 billion.

Moreover, Kuwaiti banks’ total assets jumped 6.64% to KWD 68.71 billion in the seventh month of 2019, compared to KWD 64.43 billion in the year-ago period.

Foreign assets at local banks went up by 16.2% year-on-year, 2.9% month-on-month, to KWD 14.98 billion in July.

The Kuwaiti foreign currency reserves grew by 5.01% year-on-year to KWD 11.588 billion ($38.236 billion) in July 2019, according to a report released by the Central Bank of Kuwait (CBK).

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 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.