A report issued by the Kuwait Finance House "KFH" based on the data of the Kuwait Central Bank revealed that the total deposits in Kuwaiti banks in November 2019 increased by 1.5 percent to approximately 43.6 billion dinars, while the credit activity of banks increased by more than 4.7 percent year on year, as credit facilities balance by the end of November recorded about 38.3 billion dinars.
The value of the annual growth of deposits amounted to about 656 million dinars, driven by the increase in government sector deposits by 14 percent (882 million dinars), while private sector deposits declined by 0.6 percent (-226 million dinars).
On a monthly basis, the total deposits decreased by 0.1 percent by about 54.5 million dinars, driven by a slight decrease in private sector deposits of 0.5 percent by 201 million, while government deposits increased by 2.1 percent, or about 146 million, approaching 7.2 billion dinars in November 2019, while credit granted fell 0.3 percent on a monthly basis.
Source (Al-Rai Newspaper- Kuwait, Edited)
