Mubasher: Foreign net assets of Kuwait’s banking sector increased by 6.94% year-on-year to KWD 18.49 billion ($60.90 billion) in April, from KWD 17.29 billion ($56.95 billion), according to the Central Bank of Kuwait’s (CBK) recent data.

On a monthly basis, the banking sector’s foreign assets rose 3.88% from KWD 17.80 billion in March, the CBK said.

The CBK’s total assets grew 9.62% to KWD 11.28 billion in May versus KWD 10.29 billion in the same month a year earlier.

The central bank’s foreign assets increased by 9.06% to KWD 11.19 billion by the end of May.

The GCC nation’s bank assets levelled up 20.16% to KWD 67.24 billion in April, compared to KWD 63.45 billion in the prior-year period.

Foreign assets of banks operating in Kuwait went up 10.71% to KWD 14.16 billion in the fourth month of 2019 from KWD 12.79 billion in the same month a year ago.