Banks may be taking every possible measure to set their house in order but the sector would continue grappling with the challenges facing the global economy and the end of the first quarter may be too early to expect positive results, say financial analysts.
The measures taken by the banking sector in the UAE, including stringent lending norms in order to balance advances to deposit ratio, are likely to bear fruit only by the end of the first half or the third quarter of 2009, according to analysts.
As annual results of most banks reflected a clear strain on profits due to the economic crisis, many are pinning hopes on the results of the first quarter now.
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