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As the Cold War ended in the late 1980s, Austria’s Raiffeisen group spearheaded the spread of international banking in what became known as the ‘Wild East’ of Europe.
It was a period of heady optimism and expansion by Western capitalists, and banks were a central part of it. For a decade and a half after the late 1980s, large US and Western European lenders embarked on a period of ambitious growth in wholesale and retail banking around the world.
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