Analysts are hoping for a long-awaited rebound in profits at Dubai's biggest banks as they report quarterly earnings in the coming weeks.
But a return to full health remains far off for the majority of the sector. The latest Central Bank data showed that levels of capital lent out at the end of August were barely higher than two months earlier. Expectations are that poor revenue growth may yet mar the performance of the rest of the sector.
"Loan growth numbers continue to be sluggish and we do not see the situation improving in the near term, given the ongoing deleveraging process in the corporate sector and tighter regulations surrounding retail, corporate and sovereign exposures," analysts from Deutsche Bank wrote in a research note.
Dubai's economy has steadily recovered from the property crash of 2009, with increased tourism and a strengthening housing market helping to propel growth figures.
A higher price of oil has also underpinned improved growth prospects for lenders operating in Abu Dhabi.
Corporate debt troubles have dragged on banks' earnings, with Dubai Group's $10 billion (Dh36.73bn) restructuring proving particularly intractable.
But profit estimates for Emirates NBD from analysts polled by Bloomberg are Dh681.3m in the third quarter, almost triple the earnings generated during the same quarter a year earlier.
At the time, Emirates NBD set aside the highest level of capital to cover bad debts in its history, in a move that surprised many analysts.
For Abu Dhabi's big lenders, the consensus is for growth in quarterly net profits of between 1 and 8 per cent during the same period, though Abu Dhabi Commercial Bank is expected to increase profits by as much as 22.3 per cent.
ghunter@thenational.ae
UAE Falcons
Carly Lewis (captain), Emily Fensome, Kelly Loy, Isabel Affley, Jessica Cronin, Jemma Eley, Jenna Guy, Kate Lewis, Megan Polley, Charlie Preston, Becki Quigley and Sophie Siffre. Deb Jones and Lucia Sdao – coach and assistant coach.
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Jawan
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Tell Me Who I Am
Director: Ed Perkins
Stars: Alex and Marcus Lewis
Four stars
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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Results:
Men's 100m T34: 1. Walid Ktila (TUN) 15 sec; 2. Rheed McCracken (AUS) 15.40; 3. Mohammed Al Hammadi (UAE) 15.75. Men's 400m T34: 1. Walid Ktila (TUN) 50.56; 2. Mohammed Al Hammadi (UAE) 50.94; 3. Henry Manni (FIN) 52.24.
Race card for Super Saturday
4pm: Al Bastakiya Listed US$250,000 (Dh918,125) (Dirt) 1,900m.
4.35pm: Mahab Al Shimaal Group 3 $200,000 (D) 1,200m.
5.10pm: Nad Al Sheba Conditions $200,000 (Turf) 1,200m.
5.45pm: Burj Nahaar Group 3 $200,000 (D) 1,600m.
6.20pm: Jebel Hatta Group 1 $300,000 (T) 1,800m.
6.55pm: Al Maktoum Challenge Round 3 Group 1 $400,000 (D) 2,000m.
7.30pm: Dubai City of Gold Group 2 $250,000 (T) 2,410m.