The Central Bank of Kuwait (CBK) revealed that the total assets of the local banks increased in August by 7.46 percent to 69.15 billion dinars, recording the highest level ever, compared to 64.35 billion dinars in the same month of 2018, with a monthly growth of 0.64 percent.
Kuwait's foreign reserves increased by 4.35 percent year-on-year in August, with foreign reserves reaching KD 11.553 billion in August, compared to KD 11.071 billion in August 2018. On a monthly basis, the value of foreign reserves declined by 0.30 percent, while it was 11.588 billion dinars in July 2019.
The net foreign assets of the sector, recorded about 18.61 billion dinars, compared to 17.38 billion in the same month of 2018, representing an annual increase of 7.08 percent. On a monthly basis, the net foreign assets of the banking sector increased by 0.7 percent, compared with a level of 18.48 billion dinars in July.
Source (Al-Rai Newspaper-Kuwait, Edited)
