Financial and Monetary Statistics – June 2019

In its monthly monetary statistical bulletin for the month of June 2019, as published on its website, the Central Bank of Kuwait (CBK) stated that the balance of total public debt instruments -bonds and Tawarruq operations are included since April 2016- declined by KD 420 million by March 2019 to become KD 2.972 billion in the end of June 2019, 6.9% of the nominal GDP for 2018 in the amount of KD 42.8 billion. The average interest rate on public debt instruments scored 3.250%  for  one year, 3.375% for 2 years, 

3.375% for 3 years, 3.500% for 5 years, 3.625% for 7 years and 3.875% for 10 years. Local banks capture 100% of total public debt tools (100% in the end of March 2019).

The CBK bulletin states that total credit facilities for residents offered by local banks in the end of June 2019 scored about KD 37.881 billion, about 55.6% of total local banks’ assets, rising by KD 460.6 million or a quarterly growth rate of 1.2%, over its level in the end of March 2019. Total personal facilities were at KD 15.976 billion or 42.2% of total credit facilities (KD 15.909 billion in the end of March 2019), a quarterly growth rate by 0.4%. Total value of installed loans there from scored about KD 11.796 billion, or 73.8% of the total value of personal facilities. An amount of KD 2.578 billion or 16.1% of the total personal facilities, went for the purchase of securities. Value of consumer loans amounted to KD 1.228 billion. Credit facilities for the real estate sector amounted to KD 8.615 billion or 22.7% of the total (KD 8.314 billion in the end of March 2019), approximately two-thirds of the credit facilities went to personal and real estate facilities. The trade sector acquired KD 3.430 billion or 9.1% (KD 3.446 billion in the end of March 2019), nearly KD 2.008 billion or 5.3% went to the construction sector (KD 2.096 billion in the end of March 2019), and KD 1.997 billion went to the industry sector or 5.3% (KD 1.950 billion in the end of March 2019), and KD 1.159 billion or  3.1%  went to the financial institutions -other than banks- (KD 1.144 billion in the end of March 2019). 

The bulletin also indicates that total deposits at local banks scored KD 44.025 billion representing 64.6% of total local banks liabilities, a rise by KD 854.9 million above its amount in the end of March 2019, a quarterly growth rate by 2%, due to the increase of public sector deposits by KD 884 million. About KD 37.115 billion -84.3%- belongs to clients of the private sector in its comprehensive definition including major institutions like the -Public Institution for Social Securities- does not include the government. About KD 34.588 billion were in Kuwaiti Dinars, 93.2% went to private sector clients and the equivalent of KD 2.527 billion was in foreign currency to private sector clients.

As for the average interest rate on customer time deposits, both in the Kuwaiti Dinar and the US Dollar versus the end of March 2019, the bulletin states that it is still in favor of the Kuwaiti Dinar in the end of the two periods. It registered at 0.764 points for 1-month deposits, 0.727 points for 3 months, 0.738 points for 6-month  deposits, and 0.742 points for 12-month deposits. This difference at the end of March 2019    was 0.819 points for 1-month   deposits,   0.750   points   for   3-month   deposits,   0.716   points   for   6-month  deposits, and 0.666 points for 12-month deposits. The monthly average exchange rate for the Kuwaiti Dinar against the US Dollar in June 2019 scored about 303.494 Kuwaiti Fils for each US$, declining very slightly by -0.014%, compared with the monthly average for March 2019 when it was 303.538 Kuwaiti Fils per one US Dollar.