Unlike nearly every other former Warsaw Pact country making the journey from central planning to a market economy, Russia has decided to shun the overtures of foreign banks and build up home-grown financing institutions instead.
But the tide seems to have turned and in the wake of recent wobbles a flood of foreign banks has arrived in Russia, announcing buyouts and tie-ups with leading Russian financial institutions.
A few tie-ups between Russian and foreign banks have already been completed.
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