Kuwait-Mubasher: Deposits of the banking sector in Kuwait stood at KWD 38.1 billion in October as the annual growth reached 3.9% during the month compared to 5.2% in September, according to data issued by Kuwait Finance House (KFH).

Private sector’s deposits reached KWD 32.5 billion in November, declining 2.3% or KWD 776 million on a monthly basis. However, the deposits improved 1% in October in which deposits totalled KWD 33.3 billion.

Deposits of the government sector increased 4.1% or over KWD 219 million to KWD 5.6 billion, after they rose 1% to KWD 5.4 billion in September.

Assets of local banks in Kuwait declined 1% or KWD 654 million to KWD 56.4 billion in October as compared to September which saw a 1% improvement in assets that exceeded KWD 57 billion.