The domestic banking sector’s operating environment remained challenging during 2011. However‚ signs of improvement compared to 2010 were evidenced by the year-on-year growth in banking-sector assets of 9percent as at December 2011‚ which is a marked improvement compared to the year-on-year growth of 5.3percent reported as at December 2010.
That’s according to the Reserve Bank’s Annual Supervision report‚ which was released on Monday.
It said the sector’s profitability had also improved with operating profit increasing by 30percent for the 12 months ended 31 December 2011. Average return on equity (ROE) and return on assets (ROA) for the banking sector increased from 14.6percent and 1percent in December 2010 to 16.4percent and 1.2percent respectively in December 2011.
“The banking sector remained adequately capitalised with total banking-sector equity increasing by 12.1percent during 2011. Total capital adequacy improved from 14.9percent at the end of December 2010 to 15.1percent at the end of December 2011. The Tier 1 capital-adequacy ratio (CAR) of the banking sector increased from 11.8percent to 12.2percent during the same period‚” the SARB stated.
A new opposition political party, the Workers and Socialist Party (Wasp), will be unveiled on Thursday.
Sanral has changed its mind and will go ahead with the controversial Winelands toll project. 
SARB Governor Gill Marcus on Wednesday made the decision not to change the repo rate.
