A The banks are doing well, benefiting from the boom in the economy; the results for 2007 are good but we expect the results for 2008 to be even better. It is a solid story, geared for strong growth with a strong competitive environment.
But there are challenges. The major challenge is the scarcity of skilled staff. There is strong demand due to the expansion of the banks, the entrance of new banks and investment banks, the expansion of insurance and expansion of the economy – all of which create strong demand for financial skills. This causes higher staff turnover than would otherwise be the case, leading to strenuous efforts to maintain staff and to more training and development.