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There are already signs that growth in the banking sector is beginning to slow down. This was evidenced by the latest financial results in the past quarter that was just released
THE results were out late Wednesday evening. Fourth quarter gross domestic product (GDP) posted a growth of 5.6 per cent while full year 2002 GDP expanded by 4.2 per cent.
SINGAPORE'S first prime rate cut in 17 months could deliver a minor boost to car and home purchases, but most experts doubt the surprise 25-basis-point easing will hasten economic recovery.
Banks in Malaysia are in for a challenging year. In its recent 2003 market Outlook Strategy report, RHB Research Institute maintains a neutral weighting on the sector and has forecast an anaemic 9 per cent growth in net banking profits for financial year 2003. The research house gives its outlook on the sector.