Falling international equity markets have swept Africa’s capital markets along with them. But the world’s poorest continent will continue to improve the sophistication of its exchanges. Writer Stuart Theobald.

In the US’s multi-layered banking sector, the credit crisis is being felt on all levels. But as the Treasury launches wave after wave of initiatives to protect the larger banks, and the smaller community banks stand firm due to their low exposure to subprime, it is the medium-sized banks that face the greatest threat. Writer Jane Monahan in Washington, DC.

After years of underdevelopment, Laos is reforming its laws and encouraging greater banking activity in anticipation of gaining WTO membership. Writer Nick Freeman in Vientiane.

The Russian banking sector has been transformed by the crisis in 2008, but signs of the change were already clear in the end-2007 data included in these rankings, as the difficulties of raising capital began to bite. Writer Philip Alexander.

As Russia undergoes its own financial crisis, the country’s authorities appear to be encouraging consolidation to remove the weaker players. But buyers will be taking a close look at their assets. Writer Ben Aris.

There has been plenty of talk globally about the need for banks to return to traditional values and operating models to avoid future financial turmoil. Malta is following this path and is reaping the rewards for its conservatism. Writer Michael Imeson.

Banco Santander’s capital raising last November was unexpected but investors responded surprisingly well. While Spanish banks have largely managed to avoid the fallout of the subprime crisis, the government is taking measures to ensure that any further global setbacks only have a minimal impact upon the country. Writer Jules Stewart.

Islamic banks’ ability to withstand the global downturn has fuelled an expansion of Islamic finance around the world. But most institutions are taking a measured approach to growth. Writer Joseph DiVanna.

Mexico’s equity markets have succumbed to global malaise and recovery will depend less on commodity prices, as is the case for most of Latin America, and more on improved debt markets and a US recovery. Writer John Rumsey.

The former UBS banker talks about his solo venture to create BTG, a Brazilian trading house-cum-merchant bank based in São Paulo. Writer John Rumsey.