Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
WorldApril 2 2013

Kuwait's banking industry goes from strength to strength

Largely unaffected by the political and economic turbulence outside the country, Kuwait's banks recorded strong growth in 2012, and are looking to improve on this in 2013, by seeking further growth abroad and taking advantage of the opportunities offered by the government's $130bn national development plan.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Kuwait's banking industry goes from strength to strength

Amid domestic political turmoil, and largely without the stimulus of the country's $130bn national development plan, the Kuwaiti banking sector still managed to record growth and strong performances in 2012. While the Arab world, particularly Syria and Egypt, was beset by wars and political tensions, Kuwaiti banks achieved growth and expansion in Turkey and across the Gulf, heralding the beginning of a new era, unencumbered by the domestic political stalemate of recent years.

Preliminary results for 2012 from the Central Bank of Kuwait (CBK) show that aggregate banking assets increased 7% to Kd52.7bn ($185bn), with customer deposits increasing by 16.5% and shareholder’s equity by 4.1%. According to the new CBK governor, Mohammad Al-Hashel, Kuwaiti banks continue to be well capitalised and highly liquid, with a capital adequacy ratio of 18% and liquid-assets-to-total-assets ratio of about 25% at the end of 2012.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial