Deposits in the Kuwaiti banking sector recorded a jump of two billion dinars, or 4.6 percent, during the past five months, to reach the level of 45.47 billion dinars at the end of last August, compared to their levels at the end of March 2020 of 43.46 billion dinars, since the beginning of the spread of the Corona pandemic in Kuwait, the application of precautionary measures to confront the pandemic and the closure of economic sectors.
According to the data issued by the Central Bank of Kuwait, private sector deposits increased by 2.1 billion dinars during that period, to reach 37.99 billion dinars at the end of last August, compared with 35.89 billion dinars at the end of last March, an increase of 5.8 percent. While deposits witnessed a monthly increase of 1.26 percent, compared to the level of 44.9 billion dinars at the end of July, and compared to their levels in August of last year, deposits increased annually by 5.3 percent, an increase of 2.311 billion dinars.
As for government deposits, they decreased by 28 million dinars by the end of last August, bringing the total government deposits in the banking system to 7.47 billion dinars, a monthly decline of 0.37 percent, and on an annual basis, they increased by 4.4 percent compared to their levels in August of last year amounting to 7.161 billion dinars.
Source (Al-Arabiya.net, Edited)