Mubasher: Total deposits held by people residing in Kuwait fell a 0.4% month-on-month, or KWD 176 million ($580.47 million), in November 2018, data released by the Central Bank of Kuwait (CBK) showed on Monday.
Deposits of residents in the GCC nation fell KWD 42.9 billion ($141.5 billion) last November, compared to KWD 43.08 billion ($142.2 billion) a month earlier.
Year-on-year, residents’ deposits posted a 2.9% increase in November, from KWD 41.7 billion ($137.6 billion).
The CBK ascribed the retreat to a decline in private-sector deposits to KWD 33.9 billion in November, against KWD 34 billion in the previous month.
Government deposits also fell from KWD 6.38 billion in October 2018 to KWD 6.28 in November, the CBK revealed.
Bank lending surged 3% year-on-year from KWD 35.46 billion in November 2017.
