Kuwait - Mubasher: Total deposits in the Kuwaiti banking sector grew 5.8% in August 2016 to KWD 40.5 billion, as per the data of the Central Bank of Kuwait.
The KWD 2.2 billion increase in bank deposits comes in line with a rise in both the private sector and the government and public sector deposits by 2.3% and 7.2% respectively in 2015.
This growth rate is higher than that achieved last year with 4.1%, as deposits totalled KWD 38.3 billion in 2015.
Total deposits declined 0.5% month-on-month to KWD 40.5 billion compared to KWD 40.7 billion in July.
Private sector deposits amounted to 83% of total deposits compared to 86% in August 2015, while the public deposits reached 17% of the total compared to 14% in August 2015.
