The total balance sheet of the Bank shows an increase from R168 billion at the end of March 2006 to R220 billion at the end of March 2007.
The increase was mainly the result of the accumulation of official gold and foreign-exchange reserves and was financed in the main by an increase in government deposits, an increase in currency in circulation and the effect of valuation adjustments to the net reserves as a result of exchange rate movements. These adjustments are reflected in the increase in the GFECRA.