Central & Eastern Europe - The Banker

Azerbaijan's finance minister tells The Banker about the country's strategy to diversify its economy away from a dependence on oil exports and addresses international questions about the government's fiscal transparency. Writer Michelle Price

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As Russian capital markets activity revives, second-tier investment banking groups have ambitious plans to share a larger slice of the business. But competition is tough. Writer Philip Alexander

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The Kazakhstan government is strongly promoting the development of Islamic finance in the country to diversify its financial sector, with strong support from Abu Dhabi. Writer Philip Alexander

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Kazakhstan's banks are divided between those that are cash-strapped and looking at restructuring, and cash-rich survivors trying to find new lending opportunities. Writer Philip Alexander

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Croatia entered the financial crisis with its banking sector in good shape, but rising unemployment and fiscal pressures are dampening new lending activity. Writer Nick Saywell

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The Russian consumer lending boom came to an abrupt end in late 2008, but convergence between consumer finance and traditional retail banking is providing the tools for sustainable growth. Writer Philip Alexander

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Poland has emerged as the most resilient economy in the EU during the global slowdown. However, The Banker's European Finance Minister of the Year is determined to stay ahead of the pack, and is now prioritising bringing down the country's budget deficit. Writer Philip Alexander

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Slovenia tracked the market's reaction to Greece's 10-year bond release in early March before moving quickly into action with its second bond issue of the year. Writer Edward Russell-Walling

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State-owned development bank Vnesheconombank became a vital tool for the Russian government to combat the financial crisis, not only at home but also in neighbouring countries. The bank's chairman explains how it is exiting the assistance phase and preparing a long-term role in the economy. Writer Philip Alexander

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When it decided to sell a slice of copper miner KGHM, Poland's government turned to Deutsche Bank, hoping that it would give the deal a more international approach as well as getting the timing of a potentially delicate deal just right. Writer Edward Russell-Walling

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There are no guarantees that a new president will usher in greater economic and political stability in Ukraine, which makes further consolidation likely in the country's under-pressure banking sector. Writer Philip Alexander

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Flooded with Scandinavian liquidity during the boom years, Latvia has suffered the most severe bust in the EU and bankers are devising a new business model while clearing up the consequences of the old one. Writer Philip Alexander

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A diversified economy of micro-businesses has shielded Kosovo from the worst effects of the financial crisis, but its unresolved national status and uncertain legal environment continue to pose challenges. Writer Nick Saywell

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In early 2009, shares in Austrian and Italian banks were pummelled by investors fearing that their exposure to central and eastern Europe would threaten balance sheets. Now they are fighting back, and staying safely in profit. Writer Philip Alexander

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The Russian retail banking sector has survived the crisis largely intact, and the change of focus from growth to funding and risk management could have long-term benefits for its resilience. Writer Philip Alexander

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The past few years have been turbulent even by Ukraine's standards, but prime minister Yulia Tymoshenko insists the situation will settle after next year's presidential elections. Writer Courtney Fingar

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Russian capital markets have taken longer than most to thaw in the wake of the credit crisis, but leading local investment banks are now getting the chance to put their new ownership structures to the test. Writer Philip Alexander

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The global slowdown has not spared Bosnia-Herzegovina, but the conservative strategies of many local banks have given them some support and protection. Writer Philip Alexander

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In May, The Banker examined the fate of Kazakhstan's fallen giant, Bank BTA. The Kazakh banks that have stayed solvent now explain their recovery strategies. Writer Philip Alexander

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Banks in Azerbaijan have been remote from the global financial market turmoil but are readying themselves for a fall in economic output at home, due to the country's reliance on oil revenues. Writer Michael Imeson

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By the onset of the global credit squeeze in 2007, Russian companies had racked up at least $300bn in foreign debt and more than 100 were considering equity listings abroad. The world has since been transformed as companies battle for scarce capital and funding. This round table on financing for Russian companies, held in April, gave senior bankers the opportunity to discuss the challenges with investors, corporate advisers and company executives. It was sponsored by VTB Capital but independently edited by The Banker.

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The chairman of PrivatBank explains how the bank intends to ride out the downturn through its focus on increasing liquidity and improving the quality of its loan portfolio. Writer Brian Caplen

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Two themes dominate the changes in this year's rankings compared with 2008. First, the heavy sell-off in the currencies of many central and eastern European countries, including Russia, Hungary and Ukraine, has reduced Tier 1 capital in dollar terms. Second, liquidity crises and the revelation of high non-performing loan (NPL) ratios on portfolios that had not previously been tested in an economic downturn has brought a number of banks close to collapse, knocking them out of the Top 1000 altogether.

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The importance of small regional development banks in emerging Europe has surged as credit ratings decline and global commercial banks cut back project and trade finance. Writer Philip Alexander

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A fall in the exchange rate has caused problems for borrowers in foreign currency. But moderate loan-to-value ratios and high levels of capital should see the banks through. Writer Nick Kochan

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Over the past decade, Greece's leading banks have expanded into south-east Europe. To remain competitive, however, they will now need to weather the financial storm and continue to focus on increasing their presence in the Balkans and the rest of eastern Europe. Writer Kerin Hope

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The full force of the global recession has hit Turkey with falls in exports leading to job cuts. Bankers say an IMF deal would help but the government is reluctant. Writer Metin Demirsar

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The global recession is nothing new to Turkey's bankers, who have learnt the lessons of the country's economic crisis of 2001 and are showing great resilience as their global peers falter. Writer Metin Demirsar

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BTA Bank has been at the centre of a financial storm involving a state bail-out, Kazakhstan's real estate crash and rotating central bank governors. However the tools to stabilise the situation now appear to be in place. Writer Philip Alexander

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The Czech Republic will not be immune from the slowing global economy but Ceska sporitelna starts from a position of strong risk management and ample liquidity, says CEO Gernot Mittendorfer. Writer Philip Alexander

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As Russia's less developed regional banks are hit hard by the liquidity crisis, the chairman of Bank Center-Invest outlines his response. Writer Philip Alexander

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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.

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Croatia has not been immune to the global liquidity squeeze, but measures taken by its central bank in recent years to avoid an uncontrolled build-up of foreign debt mean the banking system may be less vulnerable than some of its local counterparts. Writer Nick Saywell.

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Slovakia’s qualification for eurozone entry is a rare success story in a tough year for the country. The qualification brings new opportunities for the banks, and also some logistical challenges. Writer Philip Alexander.

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Three elections in two years and an inflation overshoot are compounding the uncertainty for Serbia’s banks, but foreign players still see great potential. Nick Saywell reports from Belgrade.

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Formed in 1992, Parex has seen off various crises to become Latvia’s second largest bank by selling itself as a channel into western Europe for Russian investors. Robert Anderson reports.

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Despite its small size, Montenegro is attracting investors with its stable business and banking environment, and looks firmly set on the path to EU membership. Justin Keay reports.

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Société Générale has added to its Balkan synergies with the purchase of Macedonia’s Ohridska Banka – but local banks are efficient and profits are by no means a certainty. Eric Jansson reports.

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Nicholas Nanopoulos, chief executive of Eurobank EFG, talks to Stephen Timewell about his bank’s strategy and expansion in ‘New Europe’.

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The Bank of Georgia’s oversubscribed London IPO epitomised Georgia’s drive towards catching up with the rest of the world. Ben Aris reports from Tbilisi on how chairman Lado Gurgenidze turned the bank around.

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Russia is beginning to tackle more fundamental problems with its economy. With advice from Germany’s KfW, it is boosting its banking system. Ben Aris reports from Moscow.

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President Alexander Lukashenko’s tight controls have ensured that Belarusians have not suffered in the slow transition to a market economy. But the same restrictions are curbing growth and foreign investment, as Ben Aris reports from Minsk.

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