Safe And Sound

For an industry that is battling a higher cost of doing business and, during the past quarter witnessed its first contraction of deposits after something like 50 quarters of perpetual increases, the mood at leading banking institutions is exuberant. And for more than one reason. The first is confidence, both economic and general. Many bankers saw their confidence get not one but single but a multiple shot in the arm in the past quarter. The nation’s ability to navigate the sudden storm-swept political waters and avoid being torn apart by internal strife and violence, clearly imprinted itself into the minds of many bankers as a general confidence booster. Secondly, banks saw good rise out of their own ranks. The fast action and effective leadership of the central bank in averting the danger of capital flight and handling the pressure on the currency has been suitably acknowledged. But banks also played