Settlement ops among consolidated local banks dip in 1st 11 mths of ’23

Settlement ops among consolidated local banks dip in 1st 11 mths of ’23

KUWAIT CITY, Jan 14: Settlement operations among local consolidated banks saw an 11.6% decrease over the first 11 months of 2023, amounting to approximately 31.1 billion dinars. This decline, from 267.8 billion dinars in the same period of 2022 to 236.7 billion dinars, occurred despite a 5.9% monthly increase in November, reaching 27.789 billion dinars …

<p>The post Settlement ops among consolidated local banks dip in 1st 11 mths of ’23 first appeared on ARAB TIMES - KUWAIT NEWS.</p>KUWAIT CITY, Jan 14: Settlement operations among local consolidated banks saw an 11.6% decrease over the first 11 months of 2023, amounting to approximately 31.1 billion dinars. This decline, from 267.8 billion dinars in the same period of 2022 to 236.7 billion dinars, occurred despite a 5.9% monthly increase in November, reaching 27.789 billion dinars from 26.23 billion dinars in October. Data from the Central Bank of Kuwait for November reveals a 59.1% annual increase in settlement operations between local banks, totaling 10.32 billion dinars, compared to 17.46 billion dinars at the end of November 2022. The decline in settlement operations coincided with various factors affecting banks in 2022, notably a 2.6% reduction in new credit facilities, consolidating at 20.72 billion dinars in