The sector achieved net profits of $254.62m in 2015, which was a 6.7% decrease from 2014. This was a solid performance considering the challenging environment.
Although there were strong increases in interest and other income, this was more than offset by an increase in operating expenses of $48.49m.
The sector faced increasing margin pressure, with the interest margin decreasing some 32 basis points. Organisations also incurred additional cost around compliance, and improving the technological front end of their businesses.