The total deposits of Kuwaiti banks rose by about 2.547 billion dinars during the first half of this year, by 5.72%, to reach 47.108 billion dinars at the end of last June, compared to 44.561 billion at the end of December 2021.
Kuwaiti banks benefited from the Central Bank of Kuwait raising the discount rate by about 0.75 percent during the first six months of this year from 1.5 to 2.25 percent, before it was raised again last July to 2.5 percent.
Total deposits increased by 102 million dinars (+0.22 percent) last June compared to the previous month, while the growth of deposits on an annual basis amounted to about 2.955 billion dinars (+6.69%) compared to their level in June 2021. The total private sector deposits increased by about 90 million dinars (+0.23%) in June 2022 to reach 39.917 billion dinars, compared to 39.827 billion dinars in May. The private sector's deposits in dinar also rose by about 121 million dinars last June on a monthly basis (+0.33 percent) to reach 37.271 billion dinars.
Source (Al-Rai Kuwaiti Newspaper, Edited)
