Press Releases
CBK Issues Financial Stability Report for 2024
Continuing its efforts to enhance transparency, disclosure, and publication of reliable data and statistics related to the Kuwaiti banking and financial sector, the Central Bank of Kuwait (CBK) issued its Financial Stability Report for 2024, which is the 13th edition of a series of reports prepared and published by CBK. This year’s report includes the latest data and statistics related to the Kuwaiti banking and financial sector for the reporting period, and is structured into five main sections, each of which provides a comprehensive assessment of the relevant topics.
The Financial Stability Report, which CBK issues annually, covers the most important global and local developments during 2024 that affected the financial and banking system in the State of Kuwait. In particular, the current report shows that despite the ongoing geopolitical tensions and uncertain economic landscape, the financial soundness indicators of the local banking sector continued to underscore the strength and resilience of its financial position in terms of asset quality, capital adequacy, liquidity, and profitability. This highlights the sustainability of the sector and ability to adapt to economic challenges.
The report comprises five main chapters, beginning with an analysis of global and local economic developments, followed by a chapter dedicated to assessing the local financial system, and the developments seen in the banking sector during the year. Another chapter analyzes the key risks facing the sector, including market risk, credit risk, liquidity risk, and operational risk. The report also provides an assessment of the profitability and solvency of the banking sector, and concludes with a chapter on the domestic payment ecosystem. The report also includes boxes addressing key topics such as an overview of the Kuwait Overnight Interest Average (KONIA) index, in addition to a review of the impact of implementing the Basel III capital adequacy standards on the local banking sector over the past ten years.
The full Financial Stability Report can be accessed on CBK’s official website.
