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Kuwaiti CBK assets rise 22% to KWD 11bn YoY in October

Kuwaiti CBK assets rise 22% to KWD 11bn YoY in October
Kuwaiti CBK assets rise 22% to KWD 11bn YoY in October

Mubasher: The Central Bank of Kuwait's (CBK) assets surged 21.6% year-on-year by the end of October, reaching KWD 10.7 billion ($35.3 billion), compared to KWD 8.8 billion ($28.9 billion), the bank's data revealed.

The growth in assets was attributed to a 20.7% rise in value of accounts, bonds, certificates of deposits, treasury bills (T-bills), and deposits in foreign currencies, to KWD 10.5 billion during October, from KWD 8.7 billion a year before, the data added.

Year-on-year, other assets soared 283.4% reaching KWD 184.1 million, compared to KWD 54.4 million.

CBK’s gold assets remained stable at KWD 31.74 million by the end of last month.

On a monthly basis, the Kuwaiti body’s assets levelled up 1.9%, from KWD 10.5 million.

Assets went up month-on-month due to a 1.9% increase in value of accounts, bonds, certificates of deposits, treasury bills (T-bills), and deposits in foreign currencies, and a 17.3% jump in other assets.