Summary of Banking System Developments: September 2018
In the first nine months of 2018, the banking system maintained its resilience and stability. During the period reviewed, the system’s return on equity increased to 9.7 percent, higher than the multiyear average of 8.9 percent[1]; credit portfolio quality remained high and the levels of capital and liquidity remained above the regulatory thresholds. In parallel, the banks continued progressing with the implementation of their multiyear plans to increase efficiency, in accordance with the guidelines of the Banking Supervision Department, as part of which they continued to develop and adopt new tools and technologies for improved service to customers and increased efficiency of internal processes. The Banking Supervision Department, for its part, continued to act to increase competition in the area of banking services to retail customers; to create a regulatory infrastructure that will allow the entry of new players, and to adopt innovative technologies (further details can be seen in Table 1).
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[1] 2009–18 average.