Profits during the year shot up by Rs 1 billion, or 11 per cent higher than the previous year, and were just shy of Rs 10 billion. The capital base of banks continues to be strong. The shares of the two listed banks have held steady on the local stock exchange.
So much so that these two banks now account for an astounding 42 per cent of total market capitalisation, compared to little above 30 per cent in June last year. We trot out these figures with some satisfaction. We are nevertheless, aware that there is no room for complacency either on our part as regulator or on the part of the banks themselves.