(More on this issue) Banking Sector Performance Our banking sector continued to show remarkable resilience – in some cases, insolently so – in the midst of the global financial meltdown. As at 30 September 2011, unaudited figures show that banks realised profit after tax of Rs15.9 billion against Rs10.1 billion a year earlier.
It is evident that the external sector policies of the 1990s, based on the Report, paid rich dividends in terms of growth and resilience to a series of external and domestic shocks. Various reforms in the trade policy regime have unlocked entrepreneurial energies, stepped up productivity gains and improved competitiveness and access to overseas markets.