The Monetary Bulletin issued by the Central Bank of Kuwait showed that the net foreign assets of the Kuwaiti banking sector rose by 6.9% year-on-year in February, with net foreign assets of local and central banks reaching KD17.47 billion ($57.49 billion) in February, compared to 16.33 billion dinars, or 53.73 billion dollars, in the same month of 2018.
On a monthly basis, the net foreign assets of the sector declined by 3.3%, knowing that it reached about 18.06 billion dinars in January.
The same sourced revealed that the total assets of the Central Bank of Kuwait reached KD 10.89 billion in February, representing a growth of 10.2 percent compared with its value in the same month of 2018 of KD 9.88 billion and a monthly increase of 0.3 percent.
The central bank's foreign assets rose by 9.5% to KD 10.72 billion, compared to KD 9.79 billion in February 2018, with a monthly growth of 0.3 percent. At the level of local banks, the total value of its assets amounted to KD 66.38 billion, up 4.9% from its value in February 2018 at KD 63.24 billion and a monthly increase of 0.7%.
Source: (Economic Bulletin website, Edited)
