Kuwaiti banks' deposits at a record level of 127 billion dollars

by **Rocky** Sat 11 Jan 2014, 6:54 am

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Kuwaiti banks' deposits at a record level of 127 billion dollars

by Rocky Sat 11 Jan 2014, 6:54 am

Kuwaiti banks' deposits at a record level of 127 billion dollars

Kuwait Investment Authority's assets jumped to 400 billion dollars

Logo National Bank of Kuwait

Kuwait: «Middle East»
exceeded deposits in the Kuwaiti banking sector a new record level, when it exceeded 36 billion dinars at the end of November (November) of 2013. According to figures Central Bank of Kuwait, jumped deposits public and private sectors in the Kuwaiti banks 401.2 million dinars in the month of November alone, a record set a new historical at 36.03 billion dinars (127 billion dollars), after it grew by 7.5 per cent in the first 11 months of the year the past.
The private sector deposits rose the most in this period, where stepped 2.33 billion dinars, an increase of 8.1 per cent.

Bank deposits are divided between 30.88 billion dinars for the private sector, any share 85.7 percent of the total, and 5.14 billion to the government sector's share of 14.3 per cent.

It is noteworthy that some government institutions Kaltaminac social, for example, but not limited to, deposits fall under the private sector.

The deposits amounted to 2.86 billion dinars at the end of November last year, while demand deposits exceeded or current 990.5 million, has stabilized bond at 1.9 billion dinars.

Furthermore, settled credit in the month of November 2013 after a strong rise in the month of October (October), which rose 0.2 per cent only. In total, the credit growth in the first 11 months of 2013 about 7.8 per cent, bringing the total loans to 28.88 billion dinars at the end of November Personal facilities still are driving this growth, as well as some sectors related to real estate, construction and trade.

This comes after the financial report revealed that the assets of the Kuwait Investment Authority has increased from 260 billion dollars in 2008 to 400 billion dollars now .. And that half of these funds invest in stocks and the rest in real estate, and infrastructure assets in Europe, America and Asia.

The report, issued by the magazine «Global Finance» The banks had the strength, health and high levels of capital and strong liquidity and a few non-performing loans.

She added that Kuwait's central bank faces a long-term tasks in the forefront of dealing with situations of investment companies that still need to care and attention, especially as the number of those companies were liquidated or merged with other companies as a result of its involvement in real estate investments strongly that preceded the global crisis.

The report called on the Central Bank of Kuwait to search for how to achieve the Kuwaiti banks are ten good profits in the face of limited Kuwaiti market and compete with foreign branches, the magazine pointed to the presence of the growth in consumer credit while moving the majority of the increase in loans to non-financial sector, reflecting hopes for the beginning of some local projects that longer the delay.

However, the record growth in personal credit Interestingly, rising consumer loan balances and premiums of 16.3 per cent in the last year until October 2013.

The monthly statistical bulletin of the Central Bank of Kuwait for the month of November last year that the balances of cash credit facilities provided by the banking sector to residents rose in November by 0.3 per cent over last October for up to 28.8881 billion dinars.

Central Bank of Kuwait for his part pointed out that the net foreign assets in Kuwait stood at the end of the month of November 2013 15.3917 billion dinars, compared to 15.1252 billion dinars in the month of October 2013 an increase of 1.76 per cent.

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