Buba's Welteke says 2002 hard for German banks

GERMANY - Bundesbank President Ernst Welteke said on Friday 2002 would be a difficult year for German banks and urged the sector to take measures to counter falling results and weak international competitive power.

Banks would meet delayed effects from last year's economic downturn, even though the economy would pick up in the run of this year, as bankruptcies typically lagged the economy by three to four quarters.

"Even though there will be an economic recovery in the course of this year more

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