I very well understand the effort that many of you have made to be here, so I would like to thank all participants and, very especially, those who, coming from abroad, join us every year. Organizing this conference is not an isolated effort. This is part of a comprehensive strategy of being an active professional member of the international financial community.
•  The stock of non performing loans to gross loans decreased from 11.4% as at the end of November 2007 to 8.4% at the end of November 2008. The reduction is largely attributable to enhanced risk management practices by banks and NPL recoveries. •  The sectors profit before tax stood at Kshs. 40.2 billion for the eleven months ending November 2008.