Though Kuwait’s near-term economic outlook may have been affected by slumping commodity prices, the country’s banking sector is yet to show any signs of strain. By most indicators, 2015 was a successful year for Kuwaiti banks as they benefited from supportive government project spending and strong growth in the non-oil sector.
According to data from the Kuwait Banking Association, this translated into asset growth of 5.6% for the year, with total assets reaching Kd58.6bn ($194.7bn), up from Kd55.5bn at the end of 2014. Gross private sector credit also grew from Kd32.7bn to Kd35.1bn over the same period.
