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N° 288 |
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| 3 June 2009 |
| Will Western European Banks Pull Out of Central and Eastern Europe? |
| Olena Havrylchyk |
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| The current financial turmoil raises concerns about supportiveness of foreign banks from Western European countries
for their Central and Eastern European subsidiaries. Foreign bank presence dominates banking business in almost all
countries in the region, which would make their withdrawal very painful, if not catastrophic. For Austrian and Swedish
banks, this region was a source of large profits in the last years, and, therefore, they are expected to stay in the region.
While recognizing individual strengths and weaknesses of each country, such strong interconnectedness calls for a region
wide approach for helping ailing banks. |
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