Kuwaiti banks experience mixed changes in ‘deposits and assets’

Kuwaiti banks experience mixed changes in ‘deposits and assets’

KUWAIT CITY, April 14: On Sunday, the Central Bank of Kuwait revealed that the broad money supply (M2) experienced a 0.9 percent increase in February, reaching 39.2 billion Kuwaiti dinars (approximately $129.3 billion USD) on a monthly basis. According to statistical tables provided by the bank’s Economic Research Department, private sector deposits in local dinars …KUWAIT CITY, April 14: On Sunday, the Central Bank of Kuwait revealed that the broad money supply (M2) experienced a 0.9 percent increase in February, reaching 39.2 billion Kuwaiti dinars (approximately $129.3 billion USD) on a monthly basis. According to statistical tables provided by the bank’s Economic Research Department, private sector deposits in local dinars rose by one percent to reach 35.8 billion dinars (approximately $118 billion USD) in the same month. Conversely, private sector deposits in foreign currencies decreased by 4.2 percent to 1.7 billion dinars (approximately $5.6 billion USD). Meanwhile, the total balances of local banks’ demands on the Central Bank, represented by Central Bank bonds in dinars, remained stable at 3.3 billion dinars (approximately $11 billion USD). Furthermore, the total assets of local banks saw a 0.6 percent increase, reaching 87.6 billion dinars (approximately $289 billion USD). Additionally, the net foreign assets