Market value of non-Kuwaiti ownership in Kuwaiti banks declined by 8% in 2023

Market value of non-Kuwaiti ownership in Kuwaiti banks declined by 8% in 2023

KUWAIT CITY, Jan 8: Throughout 2023, Boursa Kuwait witnessed a notable shift in the market value of non-Kuwaiti ownership in Kuwaiti banks, reflecting a decline of 8%. The aggregate value reached 3.561 billion dinars by the end of December, down from 3.873 billion dinars recorded at the close of 2022. This decline in non-Kuwaiti ownership …

<p>The post Market value of non-Kuwaiti ownership in Kuwaiti banks declined by 8% in 2023 first appeared on ARAB TIMES - KUWAIT NEWS.</p>KUWAIT CITY, Jan 8: Throughout 2023, Boursa Kuwait witnessed a notable shift in the market value of non-Kuwaiti ownership in Kuwaiti banks, reflecting a decline of 8%. The aggregate value reached 3.561 billion dinars by the end of December, down from 3.873 billion dinars recorded at the close of 2022. This decline in non-Kuwaiti ownership is intricately tied to the broader dynamics influencing the banking sector’s market valuation on the stock exchange. Analyzing the broader market trends, the banking sector experienced an 8.3% decrease in its overall market value during 2023, translating to a significant reduction of about 2.217 billion dinars. Despite the general downturn, foreign ownership exhibited a 3.4% uptick in December, culminating in a total value of 3.561 billion dinars by