Reliance on external markets for refinancing is one of the weaknesses in Russia’s banking system. Brian Caplen reports on this and other factors that are holding back the sector’s development.

Three elections in two years and an inflation overshoot are compounding the uncertainty for Serbia’s banks, but foreign players still see great potential. Nick Saywell reports from Belgrade.

Edward Russell-Walling reports on how Georgia’s first ever issue on the international bond market was a resounding success.

Banks have made little impact on the Hungarian economy. Is that what is keeping US players interested in the market? Nick Kochan reports.

The Azerbaijan government is keen to use its geostrategic location and growing resources wealth to establish its status as a regional hub, and the financial sector is eager to play its part, reports Philip Alexander.

Azerbaijan’s authorities are pushing banks to entrench improved performance by adopting international management practices, reports Philip Alexander.

Azerbaijan’s government is intensifying efforts to strengthen the non-oil and regional economies using oil revenues and legislative improvements. But inflation is a growing threat.

BCR’s interim CEO is confident that the bank’s transformation will allow it to capitalise on the opportunities presented by one of Europe’s fastest-growing economies, he tells Philip Alexander.

UralSib is among the lucky few to benefit from the credit crunch. Virtually unreliant on international financing, the bank has stood strong and is now winning custom from rivals that are struggling. Its CEO Andrei Donskikh talks to Ben Aris.

Italy’s leading light in eastern Europe, UniCredit has ambitious plans after buying into one of the region’s most dynamic markets with its purchase of Ukraine’s Ukrsotsbank, writes Philip Alexander.