Mubasher: Deposits held by people residing in Kuwait fell in August by 0.7%, marking the second straight monthly decline, data released by the Central Bank of Kuwait (CBK) showed on Thursday.
Deposits slipped to around KWD 42.80 billion ($141.30 billion) in August from KWD 43.09 billion ($142.26 billion) the month before.
Year-on-year, however, citizens deposits in local banks increased 2.7% from KWD 41.69 billion, the central bank said.
Meanwhile, deposits registered with the private sector were up 4.7% in August to KWD 36.20 billion from KWD 34.59 billion in the same period of 2017. Month-on-month, private sector deposits decreased 0.4%.
Government deposits held with local Kuwaiti banks amounted to KWD 6.59 billion in August, down 7.2% year-on-year from KWD 7.10 billion. Month-on-month, they fell 2.4%, the CBK’s data showed.
