Regulatory pressure and the high cost of capital are driving a radical change of asset ownership in Europe. But most banks could take years to sell their non-core assets.

The effects of eurozone deleveraging on central and eastern Europe should not be exaggerated, but certain countries look particularly exposed, especially in the Balkans. And the principles of European integration are under pressure.

Turkey’s largest bank, Isbank, enjoyed return on equity of almost 20% in 2010, but new chief executive Adnan Bali is preparing for any fallout from the eurozone crisis and tightening margins in the competitive domestic market.

French giant Crédit Agricole has been buffeted by speculation surrounding the fate of the eurozone, but CEO Jean-Paul Chifflet explains how the right combination of international expansion and domestic branch network has kept the bank well positioned.

In future decades, banks will have to let go of their fixation with traditional means of interacting with the customer and instead offer solutions that meet the public's growing expectation of accessing banking services wherever and whenever they need them.

The global banking system has been shaken to its core and only by understanding what lay behind the crisis can banks hope to take advantage of emerging opportunities.

Well-run and regulated international universal banks have an essential role to play in both the global recovery and the financial system at large.

Federico Ghizzoni, UniCredit's new CEO, appears to strike the right personal balance between the group's Italian origins and its pan-European reach. But some of the dilemmas that dragged down his predecessor, Alessandro Profumo, need resolving. Writer Philip Alexander