Mubasher: Total bank deposits held by people residing in Kuwait rose 2.3% year-on-year to KWD 42.75 billion ($140.67 billion) in February, from KWD 41.78 billion ($137.48 billion), according to data released by the Central Bank of Kuwait (CBK) on Monday.

The rise in residents’ deposits was attributed to a 5.2% increase in private-sector deposits, reaching KWD 34.17 billion in February, compared to KWD 32.48 billion in the same month a year earlier, the bulletin added.

Government deposits tumbled 10.4% to KWD 5.88 billion in the second month of 2019, from KWD 6.56 billion in the prior-year period.

The value of non-residents’ deposits jumped 14% year-on-year to KWD 5.28 billion during February, compared to KWD 4.63 billion.

Month-on-month, resident deposits fell 1.4%, from KWD 43.36 billion during January.