Public sector lending limits may not be good news for Emirates NBD and National Bank of Abu Dhabi , says SICO, but worries over the UAE banking sector's health are overdone.
While the Saudi and Qatari banking sector have emerged stronger after the global financial crisis, the UAE banking sector is still in the midst of improving its asset quality.
In fact, provisioning will continue to drag banks' profitability over 2012 and 2013, as they try to build up specific and collective provisioning reserves, notes Chiradeep Ghosh, an analyst at Manama-based SICO.
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