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Best-performing banksJanuary 3 2005

Top 50 central European banks

The low representation of banks from central Europe in the Top 50 fastest growing banks is perhaps a reflection of the relative maturity of the financial and economic systems in the majority of the region and the increasing competition for market share.
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Eight countries from central Europe acceded to the EU in May 2004, all of whom, with the exception of Slovenia, were former members of the Soviet bloc, and had required radical reorganisation of their external trade towards western Europe, as well as major structural and institutional reforms. A further two countries, Bulgaria and Romania, are scheduled to join the EU in January 2007.

Due to their positioning outside the mainstream of Soviet bloc policy, the six former Yugoslav republics were more integrated into the global trading system before the break-up although, with the notable exception of Slovenia, subsequent conflicts and sanctions have delayed their further integration into the global economy. Croatia was granted official EU candidate status in June 2004 with a view to accession before 2009. However, Serbia & Montenegro, Bosnia & Herzegovina and Macedonia are still rebuilding their economic and financial systems, following conflict, while Albania continues to struggle to fully implement its World Trade Organization accession obligations.

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