From the archive, April 1998:

From the archive, April 1998:

SS Euro - sinking the unsinkable

Central Bank Governor of the Year

Central Bank Governor of the Year

Nabiullina's crisis-fighting skills

News and opinion


  • Cash Management Survey 2015: How to build a banking business around cash

    Many banks now say cash management is the heart of their business, not just for the returns it can generate in its own right but also for the opportunity to pump other products and services through their networks. Euromoney’s survey reveals banks still have a lot of work to do to turn aspiration into reality

  • Steely Nabiullina fights Russia’s fires

    Elvira Nabiullina, Euromoney’s central bank governor of the year, is staunchly sticking to her controversial crisis-fighting plan as Russia reels from its biggest financial crisis since 1998. As sanctions and falling commodity prices threaten Putin’s oil-financed state patronage, the central bank – the last bastion of economic orthodoxy – is battling to craft a new growth model. Can Nabiullina turn crisis into opportunity?

  • Green shoots of recovery appear in CEE banking M&A

    Bad debts, low valuations and a lack of appetite for expansion among strategic players have kept a lid on banking sector M&A in emerging Europe since the financial crisis. Now the recovery of key regional banks and the emergence of new investors is driving a resurgence in activity. But will it last?

  • Argentina: To the winner, the spoilt economy

    This year’s presidential election in Argentina is likely to be the first to be decided in a second and final round of voting since the constitution was changed in the 1990s. The outcome for the country – and its economy – will be as important as it will likely be close. Euromoney talks to economic advisers to the two leading candidates about how they view 2016 and beyond.

  • Regional banks battle to fill Central America vacuum

    Colombian banks are moving into Central America as international banks depart. Regulation could drive further consolidation. The locals will need strength to survive – and thrive.

  • Bank ROE roller coaster: the point of no return

    For several years, bank chief executives have harmed their credibility by promising medium-term earnings targets that they have never come close to hitting. Some have been ousted as a result. No more. In 2015 and beyond, 10% is the new 15% when it comes to projections of future returns on equity. Few are even hitting that lower target, which barely covers their cost of their equity. But there are signs that investors are starting to see the value in lower, less risky, more sustainable returns. And capital costs are falling. Could this be the end of the ROE roller coaster?

  • Croatia's Vujcic stares down the doom-mongers

    The country’s bloated public sector and rapidly rising government debt burden have alarmed analysts and prompted comparisons with Greece. As the nation emerges from six years of recession, however, central bank governor Boris Vujcic argues that there is much to celebrate.

  • Middle East: Fund management moves to the forefront

    Recent developments in the stock markets of the Middle East have caught the attention of international investors. But they also have the potential to invigorate something that the region has long lacked – a powerful domestic asset management industry.

  • Banking: Taiwan’s feet of clay

    The island’s biggest lenders are pushing hard into Asia, snapping up regional banks in a quest for growth and higher returns. Back at home, though, the island’s banking sector remains as moribund as ever, hobbled by too small a market and powerful unions.

  • Chinese investment banks: Calmer chameleons

    Asia’s growing band of big, local investment banks won’t let short-term market fluctuations affect their planned transitions from national to regional leadership

  • China's leaders hit the panic button

    Look beyond the gyrations of its stock markets, and you can see one thing clearly in China: equivocation. The regime of Xi Jinping is fundamentally flawed because of its public espousal of the markets, but private refusal to cede any real control. Optimists hope the latest crisis could be the impetus for real reform. Most experts warn investors hoping for a recovery in their stock purchases not to hold their breath

  • Finance Minister of the Year: Cardenas steadies the ship

    Colombia, more than any other Latin American country, has used the favourable winds of recent years to prepare for the rainy days ahead. But has finance minister Mauricio Cárdenas done enough to ensure Colombia stays afloat if there is a prolonged emerging market downturn?

  • US faster payments: Banking’s technological backwater

    Fintech firms and foreign adoption of faster payments are revealing what many have long known – US consumer banks have resisted innovation in favour of profits. Now they face a death by a thousand cuts unless they embrace change.

  • Igor Kim: Russia's great consolidator

    A prolific bank buyer but notoriously publicity-shy, Igor Kim is little known outside his native Russia. In his first major interview with the international media, he talks about expanding into Europe, surviving a spell on Canada’s sanctions list and why global banking models are doomed to failure.

  • Central America: Money laundering – consolidation from the bottom?

    Roberto Zamora, president of Lafise, says that money-laundering regulation is the pertinent driver of consolidation throughout the region.

  • Europe’s new national banking champions

    For European banks, the days when a lack of big international operations was seen as a weakness are gone. Nowadays, some of the continent’s biggest and most successful banks are using large market shares in a single market in increasingly profitable ways – setting an example for bigger peers. Euromoney asks their CEOs how they are doing it.

  • Lessons from Chemical/Chase: the birth of global banking

    The merger, 20 years ago, of Chemical and Chase ushered in the era of global banking. It was driven by competition from growing regional competitors, the threat of disintermediation, technological challenges, capital constraints, the desire to serve clients more efficiently and, above all, the need to boost returns to shareholders and unlock value. Those challenges sound all too familiar today. So why aren’t more banks looking at consolidation as a way to beat the post-financial crisis blues?

  • The debt case for Middle East investment

    Saudi Arabia and Iran have been presented chiefly as an opportunity on the equity side, but both markets are attracting interest from the fixed income community as well.

  • Africa: Is cross-border regulation the next big problem?

    As pan-African banks expand across the continent at lightening speed, experts have started to highlight the inadequacy of cross-border banking regulation. Regulatory progress is slow, while pan-African banks admit that the issue is not yet top of their priority list.

  • Angola's de-dollarization drive

    The country’s radical programme has put pressure on the banking sector, which in its short existence has relied heavily on the business brought in by foreign exchange. How can banks stay afloat with a lack of dollars in the system?

  • NBIM sovereign wealth fund: Norway’s supertanker maximizes its impact

    The country’s sovereign wealth fund is probably the largest in the world, and certainly the most transparent – a double act that creates challenges for the 450 people who run it. How does one run a fund twice the size of the national economy it supports, one so big that markets move at the mere thought of what it might do next? Two of NBIM’s CIOs explain.

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