Analysts feared that European banks in Russia would suffer as the economy took a downturn but in fact they have fared better than expected.
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Russian lender Tinkoff has fared better than most of its peers during the uncertainty that has engulfed the country's economy in the past 12 months, thanks in no small part to a wide portfolio of products, which take in debit and credit cards, insurance, mortgages and SME servicing.
Belarus has been hit hard by falling oil prices, its heavy dependence on Russian exports and the devaluation of the rouble, which has led to a contraction of the economy. But banks are looking to SME financing – as well as a spell of de-dollarisation – to get the country back on a sound financial footing.
Belarus’s first deputy minister of the economy, Alexander Zaborovskiy, explains how a flexible exchange rate scheme and a more attractive investment environment can help the country survive knock-on effects of the economic difficulties facing neighbouring Russia and Ukraine.
Correspondent banking remains an important channel for financial flows within the eurozone, but the market is becoming increasingly concentrated in the hands of a few institutions
Europe’s banks are increasing their interdependence and shedding complex assets, according to the European Banking Authority.
The latest ranking of EU banks shows balance sheets and capital have shrunk for most on the back of a weakening euro, while Spanish banks managed to increase their profitability and specialised banks emerged with the highest returns.
International financial institutions remain crucial in central and eastern Europe as the fallout from the financial crisis continues to make its presence felt. But just how far should these development banks go in helping to resolve the various crises that have hit the countries of this region in recent years?
China's One Belt, One Road initiative – building a new Silk Road between western Europe and China's east coast as well as improving the Maritime Silk Road – will be a major game changer for international trade. Stefania Palma assesses its possible impact.
Ukraine has experienced a devastating sequence of events in recent years, but now, thanks to the new government's reform programme, its citizens can look to a brighter future, says the country's finance minister Natalie Jaresko.
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