Ukraine’s banking crisis extends far further than the country's recent troubles, says James Hydzik, but finally the central bank is cleaning up the sector and bringing banks to heel. 

Central and eastern European banks in the EU faced a sluggish 2013, but Poland led the region in terms of growth and the Czech Republic in terms of returns. Baltic banks are also starting to rise to the challenge.

Russia’s central bank governor, Elvira Nabiullina, talks to The Banker about what is being done to address the inflation and devaluation of the rouble and the tools she is using to fortify the country’s economy against external shocks. 

With the six-month drop in the global oil price stinging the Russian economy, it looked as if the country's government would introduce reforms to protect it against future shocks. But with prices on the brink of a recovery, this positive momentum towards change is in danger of being lost. 

Banks in Russia are feeling the force of Western sanctions, with funds from international capital markets slowing and deposits experience a lull, but some institutions are finding ways to maintain commercial relationships with foreign investors. 

Hungary has enjoyed stronger economic growth than many of its European neighbours in recent years, but the country's minister of economy Mihály Varga is wary of taking this success for granted, insisting that the country's long-term outlook hinges on a number of external factors, from the recovery of the eurozone to a resolution of the conflict between Russia and Ukraine.

Government intervention – both to tackle the country's problematic foreign exchange loans and stimulate new lending – has revived the Hungarian banking market. Now, the race is on for banks to return to profitability.