ABSTRACT
‘The excessive reliance on monetary measures in the past, of course, restricted the main activities of the banks and affected their profitability. It provided moreover, an important stimulant to the bank to diversify … [and] Diversification has transformed commercial banks in South Africa … into organizations offering a full range of financial and related services.’ (F. J. C. Cronje, ‘South African Banks and the Franzsen Report’, The Banker, 1972, pp. 1057-8.)
