Mubasher: The banking sector’s deposit value in Kuwait increased by 2.6% year-on-year to total KWD 42 billion in September in line with the 3.1% growth in the total credit activity, Kuwait Finance House (KFH) said in a recent report.
Total banking credit in Kuwait grew to KWD 35.8 billion by the end of September, according to the latest data issued by the Central Bank of Kuwait (CBK).
The private sector’s deposits in foreign currencies was the only decliner among all deposits, shrinking by 19.7%, KFH added in its report.
Meanwhile, the governmental deposits grew to 16.8% in September 2017 from 16.6% in the same month last year.
On a monthly basis, bank deposits increased by 0.7% compared to KWD 41.7 billion in August.
