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Kuwait’s bank deposits rise in September

Kuwait’s bank deposits rise in September
Kuwait’s bank credit rose by 4.2% YoY

Mubasher: Deposits at banks operating in Kuwait grew 0.8% year-on-year to KWD 43.4 billion, or KWD 331.2 million, in September 2019,

Kuwait’s bank credit rose by 4.2% YoY to reach KWD 38.1 billion in September, according to a report released by Kuwait Finance House (KFH).

Public sector deposits levelled up by 7.8% YoY, or KWD 502.2 million, while private sector deposits declined by 0.5% YoY, or KWD 170.9 million.

Month-on-month, total deposits grew by 0.6% YoY in September, after public sector deposits decreased by 3.1%, or KWD 218.5 million, and private sector deposits grew by 1.3%, or KWD 471.4 million.

Private sector deposits accounted for 84% of total deposits, while public sector made up 16% of total deposits.