This year, we also surveyed the Mutuals on the importance of social media, impact of regulatory changes and the need for transformation. The results indicate that the sector is facing a series of complex challenges and opportunities. These are discussed in detail in the report.
- Decrease in operating profit after tax of 9.9 percent.
- Growth in assets of 4.5 percent.
- Bad debt costs continue to remain low at 0.05 percent of average gross receivables (0.06 percent in 2011).
- Capital levels remain high with an average capital adequacy ratio of 17.48 percent (17.54 percent in 2011).
- Deposits and net assets grew at 6.3 and 6.5 percent respectively.