Kuwaiti Banks Witness a Billion-Dinar Increase in a Year

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KUWAIT CITY, Nov 28: The monthly statistics issued by the Central Bank of Kuwait show the total assets of local banks increased by about 986 million dinars during October to reach 86.414 billion dinars, compared to 85.428 billion last September. It also jumped by about 3.060 billion dinars within a year after it had been 83.354 billion in October 2022.

The statistics showed a decline in the assets of the Central Bank of Kuwait by 640 million dinars, reaching 12.657 billion dinars last October, compared to 13.297 billion dinars last September.

The statistics revealed an increase in the volume of resident deposits during October by 558 million dinars, reaching 47.900 billion dinars, compared to 47.342 billion dinars last September. The value of resident private sector deposits also increased during October by about 309 million dinars to read 37.727 billion dinars, compared to about 37.418 billion dinars last September.

On the other hand, the balances of credit facilities increased by 297 million dinars to 53.125 billion dinars in October, compared to 52.828 billion dinars last September. Facilities also increased over the course of a year by one billion dinars, after reading 52.126 billion dinars in October 2022.

The value of personal credit facilities increased by 119 million dinars to reach 18.771 billion dinars last October, compared to 18.652 billion dinars last September. The value of credit facilities directed to the industrial sector also increased by 11 million dinars to reach 2.754 billion dinars in October, compared to 2.743 billion dinars last September, while the value of facilities in the trade sector declined from 3.603 last September, to 3.566 billion dinars last October.

The value of consumer facilities and loans increased during October by 14 million dinars, reaching 1.968 billion dinars, compared to about 1.954 billion dinars last September.

The government deposits declined during October by 181 million dinars, reaching 4.050 billion dinars at the end of October, compared to 4.231 billion dinars in September.

By Mahmoud Shendi

Al-Seyassah/Arab Times Staff

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