Capital, asset quality and liquidity are satisfactory, while earnings are relatively fair. a. Capital Adequacy  The capital of the industry is satisfactory. Accumulated profits increased from K12.9 million in June 2003 to K21.9 million in December 2003 and slightly decreased to K20.8 million at end-June 2004. However, capital funds to total assets increased to 18.9% from 12.4% in the same period last year.
When much of the emerging world would love to move from issuing dollar debt to issuing in  4  BIS central bankers’ speeches  its own currency so as to avoid currency risk, I don’t see why we should move the other way. Instead, let us build out an international quasi-sovereign rupee yield curve, so that rupee issuances can be priced easily.