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Local banks October performance shows strong sector -- CBK |
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Sunday, 15 November 2009 23:57 |
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Kuwaiti local banks showed strong performance last October in spite of the global financial crisis, showing a remarkable growth
compared to last September and to the same period of 2008.
The monthly Bulletin of the Central Bank of Kuwait (CBK) indicated total assets for local banks reached KD 40.2 billion last month, with a rise of 2.2 percent compared to September and around 3.6 percent compared to 2008.
Net foreign assets of local banks climbed KD 4.3 billion, a rise of 11.7 percent compared to the previous month and 93.3 to October 2008.
The private sector deposits reached KD 21.2 billion with a rise of 0.6 percent compared to September, compared to 11.7 percent last year.
Foreign currencies deposits in the private sector came up 0.6 percent compared to September to reach KD 2.6 billion, while growth from October 2008 came to 70 percent.
The CBK also indicated a hike in cash credit facilities by KD 24.9 billion, at an increase of 0.5 percent from September and 7.3 percent from October 2008. - Kuna
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