Scrapping over the scraps – a dog-eat-dog world in CEE IB

Investment-banking volumes in emerging Europe have fallen to their lowest levels for more than a decade. Some international banks are withdrawing capacity, while there is little sign of a pick up in the capital markets. So why are some of the universal banks still making positive noises?

Illustration: David Manion

Two years after the start of the Russia crisis, western bankers are leaving Moscow in droves. Political risk has also been rising across the rest of the region, taking the shine off equity markets and curbing enthusiasm for investment, while over-liquidity in local banking sectors has all but killed off nascent corporate bond markets.

Volumes in equity and debt capital markets are down to levels not seen since 2003. Even M&A, a regional bright spot, is at post-financial crisis lows.

Scrapping over the scraps – a dog-eat-dog world in CEE IB

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Scrapping over the scraps – a dog-eat-dog world in CEE IB

Thanks for your interest in Euromoney!To unlock this article:

Regulators should be upfront with taxpayers – and admit all deposits are guaranteed

The Danish Compromise tests Europe’s appetite for regulatory easing

What can US bankers really expect from Trump’s deregulation impetus?

Prem Natarajan on Capital One’s AI stairway to heaven

Thanks for your interest in Euromoney!
To unlock this article: