Mubasher: The Central Bank of Kuwait (CBK) on Wednesday reported that Kuwaiti banks’ assets rose 0.9% month-on-month in August to its highest level since 2012.

Total assets of local banks stood at KWD 62.79 billion ($208.15 billion) in August, versus KWD 62.26 billion ($206.39 billion) in July, according to the CBK’s monthly bulletin.

Meanwhile, total assets increased 5.4% year-on-year from KWD 59.56 billion ($197.44 billion).

Moreover, foreign assets of local banks slipped 0.8% to KWD 7.53 billion ($24.96 billion) in August, versus KWD 7.59 billion ($25.16 billion) in July.

Foreign assets dropped 12.3% year-on-year to its lowest level since 2015 in August to KWD 8.59 billion (28.47 billion).

The CBK’s foreign assets fell 1.4% to KWD 9.09 billion ($30.1 billion) in August, versus KWD 9.22 billion ($30.5 billion) in July.