Politics holds key to lending

Mind the gap: president Viktor Yanukovich (left) and prime minister Yulia Tymoshenko (right) are reluctant to share powerMind the gap: president Viktor Yanukovich (left) and prime minister Yulia Tymoshenko (right) are reluctant to share power

There are no guarantees that a new president will usher in greater economic and political stability in Ukraine, which makes further consolidation likely in the country's under-pressure banking sector. Writer Philip Alexander

Naftogaz prises open financial pipeline

Andrew Burton, director in the liability management team at Credit SuisseAndrew Burton, director in the liability management team at Credit Suisse

The successful debt restructuring by Ukraine's gas importer has eased short-term difficulties and offered hope for better government and corporate financial management in the future. However, the country's track record of disappointment in such matters still hangs heavy. Writer Philip Alexander

Yulia Tymoshenko

Clockwise from top: Ukraine prime minister Yulia Tymoshenko; president Viktor Yushchenko; Independence Square in Ukraine capital KievClockwise from top: Ukraine prime minister Yulia Tymoshenko; president Viktor Yushchenko; Independence Square in Ukraine capital Kiev

The past few years have been turbulent even by Ukraine's standards, but prime minister Yulia Tymoshenko insists the situation will settle after next year's presidential elections. Writer Courtney Fingar

Alexander Dubilet

Alexander Dubilet, chairman of PrivatBankAlexander Dubilet, chairman of PrivatBank

The chairman of PrivatBank explains how the bank intends to ride out the downturn through its focus on increasing liquidity and improving the quality of its loan portfolio. Writer Brian Caplen

Slowdown hits CEE banks hard

Two themes dominate the changes in this year's rankings compared with 2008. First, the heavy sell-off in the currencies of many central and eastern European countries, including Russia, Hungary and Ukraine, has reduced Tier 1 capital in dollar terms. Second, liquidity crises and the revelation of high non-performing loan (NPL) ratios on portfolios that had not previously been tested in an economic downturn has brought a number of banks close to collapse, knocking them out of the Top 1000 altogether.

Viktor Yushchenko

The president of Ukraine characterises his country’s economic outlook in the face of the current crisis as ‘difficult but not tragic’. Writer Nick Kochan.

Italian giant leaps east

Gianni Franco Papa, Ukrsotsbank (USB)

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.

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