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Home Reports Banking/Finance

Banking Sector Report – January 2020

5 years ago
in Banking/Finance, Central Bank, Reports
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This report discusses performance of the banking sector based on data from the December 2019 prudential returns of the twenty-three (23) banks.

The financial performance of the banking industry improved significantly in December 2019, exactly a year after completion of the reforms in the sector. This reflected in the growth of banks’ balance sheet size and profitability, as well as improvement in key financial soundness indicators.

In the year, the sector recorded a strong growth in total assets funded mainly by deposits, which signalled renewed confidence in the banking sector. The pickup in deposits together with increased capital levels, gave impetus to strong credit growth during the period under review.

Profitability also improved relative to last year with banks posting a stronger profit outturn in December 2019. Furthermore, key Financial Soundness Indicators (FSIs) of the industry significantly improved underscoring a more stable and resilient banking sector.

Under a more stringent capital adequacy regime, the banking sector remained solvent with the Capital Adequacy Ratio (CAR) well above the regulatory 13 percent prudential limit under the Basel II/III framework.

Asset quality also improved significantly with the sharp decline in Non-Performing Loans (NPL) ratio due to recoveries, write-offs, and pickup in credit growth.

Banking-Sector-Report-January-2020Download
Tags: Capital Adequacy Ratiofinancial performancefinancial soundness indicators.non-performing loans
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