The quarter will mark a transition. A messy one for reported earnings but the last hopefully of an annus horribilis. The industry will start looking towards better times in 2017 and beyond. The mood will be more upbeat as the emphasis switches to growth a refreshing change after two and a half years in survival lockdown. But we re not out of the woods yet. Impairments large scale reserve write downs and capital discipline will again be prominent during this reporting season.