Best Banks in Central and Eastern Europe for 2009
The following are the «Best Banks in Central and Eastern Europe for 2009» according to rankings published by Global Finance magazine:
The top ranking banks in Serbia, Bosnia and Herzegovina, Bulgaria and Czech Republic are subsidiaries of Raiffeisen which is one of the largest financial groups in Austria. Austrian banks expanded heavily in Central and Eastern Europe after the fall of communism. One of the reasons for this expansion is that Austrians have always viewed this area as their own back yard due to historical ties. However while this strategy initially was a huge success for Austrian banks, after the credit crunch started and emerging markets in Europe were affected severely Austrian banks were impacted equally.
In the Baltic countries of Lithuania and Estonia the subsidiaries of Sweden-based Swedbank are the winners. Swedbank was founded in 1820 as Sweden’s first savings bank. Today the group has 272 branches in the Baltic countries and 216 branches in Ukraine. As with Raiffeisen of Austria, Swedbank has been suffering due to its Baltic exposure as many of these economies are in recession. Latvia, for example is on the verge of collapse or a currency devaluation. The fortunes of Swedbank are tied to the stability and growth of the Baltic countries.
Source: Global FinanceDate: 14.05.2010 [250]
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The China unit of Citigroup Inc said on Monday that it has received regulatory approval to issue credit cards in China, the first non-Asian bank to receive permission.
Source: Reuters |
| |  Three Swiss bankers indicted by U.S. in tax crackdown - 09.01.2012
U.S. authorities are moving toward taking legal action against Wegelin & Co., which could lead to an indictment of one of Switzerland's last pure private banks, on charges that it enabled wealthy Americans to evade taxes, according to two persons with knowledge of the case.
Source: Reuters |
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Islamic finance assets around the world are expected to climb 33% from their 2010 levels to $1.1 trillion by the end of 2012, boosted by the aftermath of the Arab Spring uprisings and dissatisfaction with conventional finance in the wake of the global debt crisis, consultants Ernst & Young said in a report on Tuesday.
Source: Reuters |
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Source: Reuters |
| | Spanish bank ratings downgraded by Fitch and S&P - 12.10.2011
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Source: BBC News |
| | Spotlight on Islamic Retail Banking – strategies for fast growing industry - 07.10.2011
Islamic Banking is young but fast growing industry what brings challenges as need for standardization, expanding at the market, lack of public awareness about Islamic Banking (misinterpretation) and limited resources of qualified people in this particular industry.
Source: Fleming Gulf |
| | JBIC inks $43bn credit line pact with Japan banks - 05.10.2011
The Japan Bank for International Cooperation (JBIC) said Wednesday that it has signed separate pacts with three major Japanese banks to give them a combined $43 billion, or Y3.3 trillion, credit line, as part of the government's steps to encourage companies to go ahead with M&As overseas.
Source: Nikkei |
Bosnia and Herzegovina
