Modern banking institutions were virtually non-existent in the planned economies of central Europe and the former … Soviet Union. In the early transition period, banking sectors began to develop during several years of macroeconomic decline … participation of foreign banks. By the mid 2000s the banking sectors in many transition countries were dominated by foreign owners …

Modern banking institutions were virtually non-existent in the planned economies of central Europe and the former … Soviet Union. In the early transition period, banking sectors began to develop during several years of macroeconomic decline … participation of foreign banks. By 2005, the banking sectors in many transition countries had developed sufficiently to provide a …