A challenge for us all – deposits have remained low and most of the time negative in real terms. This is not a good way to attract savings. Let me touch on Banking Sector Development: The banking sector recorded strong growth in the year to September 2007 against a backdrop of buoyant economic conditions.
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.