In a Financial Times report, Roman Olearchyk and Neil Buckley write: “Five years ago, Europe’s banks were rushing into Ukraine, paying billion-dollar prices to buy its banks in a push into what was considered one of the most promising emerging markets. Today, many of those banks are drowning in bad debt, and winding down once-aggressive retail banking operations; the European parent banks are deleveraging and, in some cases, exiting Ukraine altogether.”
The report continues: “Troubles in the eurozone
played their part. But the exodus also reflects a more uncertain economic
outlook compared with that of the years before the global financial crisis.”
