Latest articles from Central & Eastern Europe

Proof of worth

October 4, 2004

Ben Aris meets Alexander Levkovsky, Promsvyazbank’s president and chairman of the board, and asks how Promsvyazbank has stormed ahead of its rivals.

A rock and a hard place

October 4, 2004

Ben Aris in Moscow reports on the frustrating situation whereby Russian industry is experiencing a boom but is finding it more than difficult to secure finance from the banks to facilitate the expansion.

Boom and gloom

October 4, 2004

The Russian economy may appear messy but Ben Aris asks whether the future really as bleak as it seems.

EU joiners boost growth

October 4, 2004

The banking sector of central & eastern Europe continues to grow strongly as the 15 economies (including the eight EU accession states) continue in buoyant mood. And further growth is expected as more go for EU status.

Delete New money laundering rules lead to chaos in Russian bank system

August 24, 2004

Russians have seen it all before; when the queues began to form outside banks that were refusing to pay out last month, panic began to set in.
A bank crisis that started in May with the closure of medium-sized Sodbiznesbank threatened to spin out of control after the large retail bank, Guta Bank, closed its doors and a run started on accounts at Alfa Bank, one of the two biggest commercial banks in Russia.

ERM II stirs up Prague’s quiet man

August 2, 2004

Sitting over lunch within view of Prague’s landmark Charles Bridge, Zdenek Tuma, the 44-year old Czech central bank governor, uncharacteristically lets rip.
“Two years is a nonsense, yes a nonsense!” he exclaims, speaking about the need for the Czech koruna to join the Exchange Rate Mechanism II (ERM II) for 24 months in order to ultimately join the euro.
He is not alone in his dislike of this condition of entry. Many other accession country central bank governors share his views.

New money laundering rules lead to chaos in Russian bank system

August 2, 2004

Russians have seen it all before; when the queues began to form outside banks that were refusing to pay out last month, panic began to set in.
A bank crisis that started in May with the closure of medium-sized Sodbiznesbank threatened to spin out of control after the large retail bank, Guta Bank, closed its doors and a run started on accounts at Alfa Bank, one of the two biggest commercial banks in Russia.

UniCredit sets sights on ‘New Europe’ potential

August 2, 2004

UniCredit has its sights set on further expansion into central Europe. Paolo Fiorentino, deputy chief operating officer, head of New Europe, talks to Stephen Timewell about the bank’s developments in the region.

Russian central bank’s tough stance causes jitters

July 2, 2004

THE CENTRAL BANK OF RUSSIA (CBR) sparked a mini banking crisis last month after it used new anti-money laundering laws for the first time to strip a bank of its licence.

Progress and potential

July 2, 2004

Jules Stewart reports on the main points raised at The Banker’s Banking on Russia conference.
Three leading market participants addressed a conference on Russian banking organised by The Banker on May 24 to review progress made in reforming the sector and assess the outlook for future progress.

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