The foreign liabilities and foreign assets of the South African banking sector, respectively, represented but small percentages of the total assets (or total liabilities) of the banking sector, estimated at about R440 billion as at 31st December 1997. Foreign funds as a source of financing of the activities of South African banking institutions are, however, still increasing.
However, I am an optimist at heart, particularly at this time of the year, when days are getting a little longer, plans are freshly minted, new year’s resolutions are not yet totally forgotten, and we have high hopes for the year ahead. So, with this in mind, together with the topic of the conference, my focus today is primarily on looking forward.