Mubasher: Net assets of Kuwaiti banks grow 4.4% year-on-year in May, recording KWD 18.51 billion ($61 billion), according to the Central Bank of Kuwait (CBK).

Month-on-month, net bank assets rose 0.11% in May from KWD 18.49 billion in April.

The total asset of the CBK recorded KWD 11.39 billion in May, up 2.25% from the year before, and up 0.89% month-on-month.

Meanwhile, foreign assets of the CBK went up 1.4% to KWD 11.25 billion in the second month of the second quarter, compared to KWD 11.09 billion the year before.

Kuwaiti banks’ assets grew 5.2% year-on-year, and 0.22% month-on-month, to reach KWD 67.39 billion in May.

Foreign assets of banks in Kuwait registered KWD 14.27 billion in May, up 11.7% year-on-year, and 0.78% month-on-month.