Kuwait-Mubasher: The overall deposits of the banking sector in Kuwait posted the lowest annual growth in the past 10 years as it grew 0.6% in November 2015 as compared to 3.9% in October, and compared to an annual growth of 4.5% in November 2014, according to a statement issued by a research unit at Kuwait Finance House (KSE).
Gross deposits marginally increase by KWD 214 million to reach a value of KWD 37.9 billion in November 2015.
KFH’s report noted that the private deposits in Kuwait’s banking sector declined for the first time in 13 years, as the average annual growth of private deposits was 4.3%, while the government deposits rose by 2.3% on an annual basis.
The overall decline of deposits improved to 0.7% in November as compared to a fall of 1.4% in October, noted KFH.
