The highlights of the sector’s performance in the year to September 2007 were as follows: •  The sector’s total assets expanded by 20 percent while deposit liabilities increased by 18 percent during the period. The increase in the deposit base was attributed to aggressive marketing campaigns for new deposits by some institutions and rapid expansion of branch network of banking institutions.
The banking sector remained well capitalised with capital and reserves increasing by 22 per cent as a result of fresh capital injection and retention of profits. •  As at September 2007 gross Non-Performing Loans declined to 12.7% of total loans compared with 22.7% in 2006.