Just as the dust was settling on the chaotic attempted takeover of Banco BPI by Millennium BCP, the global credit crunch came along. Peter Wise reports on a tumultuous 18 months for Portugal’s banking sector.

Turkey’s banks prepare to navigate the storm of a pending global economic downturn, buttressed by a surge in foreign investment and a strong currency. Yet political uncertainties cloud the future, writes Metin Demirsar in Istanbul.

Behind the alarming headlines about bank bail-outs in the state sector, leading players in Germany’s capital markets are quietly making headway, reports Philip Alexander.

Despite its write-downs last year and Allianz splitting Dresdner Kleinwort off from rest of the group, Dresdner Bank’s senior executives still see opportunities to progress on the international stage. Philip Alexander reports.

Peter Wise and Brian Caplen talk to chief executive Ricardo Espírito Santo Salgado about Banco Espírito Santo’s plans to expand further its well-established banking network in Portuguese-speaking countries.

BBVA is in an enviable position for 2008, having had no involvement with subprime assets. Jules Stewart talks to president and COO José Ignacio Goirigolzarri.

Spanish banks are tightening up their strategies in preparation for a global slowdown says Jules Stewart.

Spanish banks appear to have survived the credit crunch relatively unscathed. However, as Jules Stewart reports, the country’s current account deficit and reliance on foreign markets is causing concern among some commentators.

Banks are discovering that there will be a regulatory price to pay for the support of governments and central banks – and it could be a costly one. Karina Robinson investigates.

Kemal Unakitan preserved Turkey’s public finances in 2007, despite turbulence in domestic politics and international markets. He wants to maintain momentum in 2008, he tells Philip Alexander.