The return to profit, plus lower contributions to the employees' pension fund thanks to a new law, will definitely help the government sell the bank.

The expansion in retail lending, the lower provisions and costs are the main drivers for the return to profitability.

Robust demand for loans in retail and further penetration in the lucrative Balkan markets helped bring about the jump in profit.

The large increase in profitability was due to the bank's strong expansion in retail lending, especially in home loans, where National held on to its top rank.

If oil prices fall, it will help to stimulate economic activity -- the profit outlook will be better and also lower oil would bring down costs, making stocks the better asset class.

For primary residences, the law stipulates that the first R1m of profit made on the sale is exempt from capital gains tax, whereas second homes do not qualify for the exemption and any gain will be subject to CGT,