We want the story of Romania to be the story of a dynamic, vibrant and innovative country, says Matteo Patrone, Director for Romania and Regional Head Romania and Bulgaria at the European Bank for Reconstruction and Development (EBRD). He spoke to Andrew Wrobel about the country’s greatest challenges. Continue reading The Goal for Romania — the Positives Outweigh the Negatives
There is no discussion about innovation in the European banking sector without acknowledging the achievements of Polish banks in the area, Wojciech Sobieraj, CEO at Alior Bank, tells Emerging Europe.
There are high expectations of recovery in global economic growth, Dr Platon Monokroussos, Deputy General Manager at Eurobank Ergasias and the Group Chief Economist, tells Emerging Europe.
Italian UniCredit wants to serve 2.6 million customers in the region, says Carlo Vivaldi, Head of CEE Devision, UniCredit, tells Emerging Europe.
(photo: courtesy of UniCredit Slovakia)
In the first quarter of 2017, the value of transactions on the regulated market of the Bucharest Stock Exchange (BVB) climbed to a six-year high and reached €530 million while the number of transactions and traded volumes climbed to a seven-year high. Ludwik Sobolewski, CEO of the BVB, spoke to Andrew Wrobel, about the effects that could positively influence the country once it gains emerging market status, and the increased interest shown by private companies to be listed on the stock exchange.
When the global financial crisis reached Central and Eastern Europe (CEE), in the fall of 2008, the era of easy, foreign-financed credit came to an abrupt end and export markets collapsed. The region’s economy was plunged into a deep recession. Problems with the quality of banks’ assets emerged soon thereafter and non-performing loans (NPLs) rose sharply. Additionally, the high level of local debt denominated (predominantly) in Swiss francs made local borrowers extremely vulnerable and led to them sub-performing. The first wave of NPL resolutions was borne within the Vienna Initiative 1, which aimed to keep western European banks committed to the CEE market. Continue reading CEE NPL Resolutions – Now and Then
Currently, we see a solid economic momentum in the CEE region. This assessment is backed up by key sentiment indicators, as well as hard data. Therefore, we expect seven to nine economies in Central and South-eastern Europe (CE/SEE) to post GDP growth rates at or above three per cent in 2017.
Continue reading Lower Imbalances Should Support more Inclusive Growth Going Forward
The Ukrainian banking sector is going through tremendous changes. The National Bank’s efforts to clean up the industry, the recent nationalisation of PrivatBank and the merger of Ukrsotsbank and Alfa-Bank are only a few examples.
Tamara Savoshchenko, Chairwoman of the Management Board at Ukrsotsbank, and Roman Shpek, an advisor to the President of Alfa-Bank Ukraine and Head of the Independent Association of Ukrainian Banks, spoke to Andrew Wrobel about the bank’s merger and its impact on the market as well as the prospects for the banking sector in Ukraine. Continue reading The Ukrainian Banking Sector Looks Set to Regenerate New Growth
When an emerging economy starts a conscious journey towards international financial markets, in order to attract foreign investments, there are several systemic and important points to consider, especially nowadays in the modern competitive and tumultuous world. Continue reading The Proof of a Country’s Readiness to Attract Foreign Investors Lies in the Development of the Insurance Market
The longevity of Belarus’ president, Aleksander Lukashenko, owes as much to the structure of the country’s economy as it does to his sharp and often criticised leadership skills, which have resulted in a narrowing of the political space and the suppression of opposition. Continue reading Winds of Change for Belarus’ Reinsurance Industry?
Singapore has become one of the most developed countries in the world, in just thirty years. Its history began when the country became an independent republic, following its ejection from Malaysia in August 1965. How did this phenomenon happen, within such a short period of time, while other countries that have regained their independence still remain comparatively poor, for example Jamaica who separated from the British Empire two years after Singapore regained independence? Continue reading Belarus and Singapore Share the Same Factors for Economic Success
The financial market in Belarus is not generally accepted as a lever for the economy, despite having an actively developing legislative framework and a well-established stock exchange structure. The main obstacle to attracting long-term foreign loans, in the current economic environment, is the lack of infrastructure solutions. Continue reading Belarus Is Making the First Steps onto the International Finance Floor