Mubasher: Deposits at banks operating in Kuwait rose by 1.2% year-on-year to KWD 44 billion ($144.59 billion) in June, according to a report released on Friday by the Kuwait Finance House (KFH).

Kuwait’s bank credit increased by 4.8% to as much as KWD 37.9 billion in June.

Private sector deposits grew by 1.5% year-on-year, while public sector deposits declined by 0.8%, compared to the year-ago period.

Moreover, private sector deposits accounted for 84.3% of total bank deposits in Kuwait in June, while public sector deposits made up 15.7% in the same period.