Lenders continue to be profitable despite challenges: Governor
KUWAIT CITY, Feb 24: The Central Bank of Kuwait (CBK) announced that it conducted a comprehensive review of the financial statements of Kuwaiti banks for the year 2020.
Dr Mohammad Al- Hashel, Governor of the Central Bank of Kuwait (CBK)
This was done as part of its ongoing efforts to bolster the financial stability of the banking sector, considered central to the State’s fi- nancial system, and ensure its continuous and efficient supply of services to the economy amid highly stressed operating conditions.
Thus, the CBK stressed its diligent and proactive monitoring of developments that could affect fi- nancial stability. Despite the ramifications of the Covid-19 pandemic on local and international economic conditions, the overall conclusion was that the sector had successfully weathered the first year of the crisis.