1. You have been assigned as an analyst for comparing the performances of Blackburn Banking Corporation with Delta Banking Corporation during the year 2019; both the Banks have provided the following information:

Ratio	Blackburn	Delta
ROE	0.076	0.042
Operating Efficiency Ratio	0.51	0.57
P/E Ratio	10.5	10
Tax Management Efficiency	0.44	0.51
Debt Ratio	0.37	0.44
Net Profit Margin	0.082	0.054
Asset Utilization	0.94	0.79
DPS	1.32	1.46
Market Book Ratio	2.04	2.08
Times Interest Earned	5.6	3.3
EPS	3.26	1.81

In the annual report to the shareholders, the CFO of Blackburn Banking Corporation wrote, 2019 was a good year for the bank as we have made higher return and also shown better efficiency compared to our major competitor. Is the CFO correct? Explain and use only relevant information and ratios in your analysis. (6+5)