Kuwait: 73% of Kuwait's population have bank accounts CBK GovernorSource: www.export-egypt.com 8/9/2017, Location: Middle East |
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34 4 GEN 0222 KUWAIT /KUNA-DER3 ECO-KUWAIT-CBK 2 73% of Kuwait's population have bank accounts -- CBK Governor KUWAIT -- Despite challenges, the CBK precautionary measures and hazard early warning systems have proven helpful in maintaining strength and regular performance of the banking sector in 2016, he said.
Moreover, they have contributed to maintaining steady growth and positive performance in several sectors that constitute foundations for financial stability. Financial brokerage continued improving in 2016, though at a slower pace, as compared to 2015. The banking sector growth slowed in 2016, with the overall assets growing by 1.85 percent compared to 2.6 percent in 2015. Local assets' growth was relatively better, posting 3.1 percent, against backdrop of the local crediting growth which reached 2.9 percent, lower than the proportion of 2015 -- 8.5 percent. Basic banking assets' decline was largely attributed to the noticeable slowness in credit growth, with the loans portfolio in the banks recording slight growth estimated at one percent, with a rise of KD 424 million (some USD 1.4 billion) against growth that reached 1.7 percent in 2015. The growth was the lowest in the past years, largely as a result of the decline of the banking loans portfolio in the GCC states, Asian and European nations. |
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