Central and eastern Europe
Best bank: Raiffeisen Zentralbank Oesterreich
Highly commended: Citigroup
Best securities firm: CA IB Investmentbank
Because of the Russia crisis, all banks and securities houses in central and eastern Europe have suffered at least a decline in business volume, if not a severe shock. So picking the winners this year has been about picking survivors, and those that rest on a solid business base.
Two other trends are sweeping the region: consolidation and foreign control, to the extent that there is little distinction any more in some countries between domestic banks and domestic banks with foreign ownership.
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