Banks need to speed up their digital transformation, a process that requires substantial investment but has the potential to 2/4  BIS central bankers' speeches  deliver both cost savings and higher revenues. Consolidation through mergers and acquisitions is one way of tackling structural problems, by helping to unlock economies of scale and diversify revenues.
Before I conclude, I wish to express my gratitude to the Honourable Prime Minister and also to the Honourable Minister of Finance, Economic Planning and Development for being among our midst today to mark the Bank's Emerald Jubilee. Last but not least, I thank all Governors and representatives of central banks who have joined us to mark this momentous occasion.