The turmoil in Greece is having an impact on financial markets throughout the eurozone, but this impact may be felt greater in its five neighbours where Greek banks have a particularly large presence: Albania, Bulgaria, Macedonia, Romania and Serbia.
Latest articles from Central & Eastern Europe
Reform-minded Natalie Jaresko has had a tough baptism in her role as Ukraine's finance minister. However, she is determined to demonstrate the safety of the country's banking sector and show that Ukraine is still an attractive investment destination, as she tells Stefanie Linhardt.
In an economy that is highly dollarised and in which the local currency has gone through a bout of devaluation, Georgia's central bank governor, Giorgi Kadagidze, has his work cut out. However, in taking a long-term approach, rather than looking for any quick fixes, he is confident that the country can achieve its currency goals.
Stringent capital requirements set by the Central Bank of Armenia will test many of the country's banks, which are already struggling in a slowing economy. But for those that already meet the new standards, the opportunities arising from possible consolidation could provide a much-needed avenue to growth.
Russian banks still account for the top three positions in the central and eastern European ranking, but their positions have been weakened after a tough year for the country's economy.
Private equity investment in central and eastern Europe could be set to increase as investors look to capture the region’s potential as its economies return to growth.
Countries in central and eastern Europe are being split in terms of their economic outlook, with Russia in deep recession but other countries benefiting from the low oil price.
For years, Austrian lenders Erste Bank and Raiffeisen Bank have enjoyed strong profits at their central and eastern European operations, but with growth in these economies slowing, more recent results suggest that they may need to rethink their strategies in the region.
While the rapid devaluation of the rouble may have slowed, top Russian banks are still exposed to US dollar-denominated loans.
Global Risk Regulator
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