Indeed, the much-anticipated next wave of consolidation in the European banking sector seems to be gathering momentum, and in Russia’s case it’s not all one-way traffic. Russian-owned, Lithuania-based Bankas Snoras has become the first eastern European group to buy a UK bank, following its acquisition of Pointon York Limited on 25 April. Alex Iapichino of Simmons & Simmons, the legal advisers to Bankas Snoras, says: “This is a trend we expect to see more of in the future.” Raiffeisen CEO Herbert Stepic says he’s got his hands full for now, but admits to a roving eye when pressed about the possibility of further acquisitions in the region. “If a nice bride walks past, you take a look,” he chuckles.