Editor's Introduction

摘要

One of the striking features of the transition process in Eastern Europe has been the domination of the banking sector by foreign investors. Some have entered these markets through acquisitions of local banks, and others have used greenfield investments to enter this market. The foreign banks bought with them both experience in business lending and the backing of their parent banks. Moreover, they did not have ties to legacy clients, many of whom were in poor financial shape and possibly unlikely to repay their existing loans.