Fitch: Decline in Traditional Bank Branches in Kuwait as Electronic Banking Services Rise
Fitch agency reports have shown that the number of branches of traditional banks in Kuwait has decreased to about 10 branches per 100,000 people, compared to 15 branches in 2010, amid increasing reliance on digital services. They indicated that the Kuwaiti banking sector is experiencing a trend toward digital transformation, although digital banks still account for only a small share of banking assets and face regulatory challenges and competition from traditional banks, which have invested heavily in digital transformation. It is also expected that digital banks in the region, especially in the Gulf, will continue their rapid growth supported by regulatory policies and high digital adoption.
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