Europe: Local banks’ time to shine

Author: | Published: 24 Apr 2014

Tough economic penalties against Russia for its actions in Crimea look set to have a dramatic – and positive – impact on the country's local banks.

Before tensions in the region escalated, deal volume for the Commonwealth of Independent States (Russia, Belarus and Ukraine) had soared to over $50 billion last year. International banks provided the bulk of this liquidity.

But prohibitions...