Kuwait banks equip for economic boom

Kuwait banks equip for economic boom

KUWAIT CITY, May 19: It seems that banks are gearing up for upcoming economic activities by bolstering their deposit balances and establishing connections with key clients and liquidity holders to attract more deposits or secure alternative funding sources, reports Al-Jarida daily. This proactive approach allows banks to secure liquidity ahead of increased demand, potentially at …KUWAIT CITY, May 19: It seems that banks are gearing up for upcoming economic activities by bolstering their deposit balances and establishing connections with key clients and liquidity holders to attract more deposits or secure alternative funding sources, reports Al-Jarida daily. This proactive approach allows banks to secure liquidity ahead of increased demand, potentially at favorable interest rates, as prices tend to rise when demand intensifies, akin to other markets. Anticipation is building for a surge in economic and commercial activity, with several projects expected to be launched soon and significant advancements anticipated in the appointment procedures for numerous citizens in various government agencies.

Additionally, the reintroduction of listings for some large companies, along with private offerings, including those financed by banks, is expected to require substantial liquidity. Private sector deposits represent the primary source of bank financing, accounting for 43.6% of total deposits. Government