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World’s Best Banks 2021: Central & Eastern Europe
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This year’s best banks in the Central & Eastern European region responded to the pandemic crisis with agility.
May 04, 2021
Most countries in Central and Eastern Europe were less affected than their western neighbors by the first wave of the pandemic. During 2020 their economies, which are typically based more on manufacturing and agrobusiness than consumer-facing services, proved resilient and in many cases registered positive growth.
The region’s leading banks responded to this by expanding their loan portfolios across the board while at the same time cutting costs and shoring up their capital base through retained earnings and increasing provisions against anticipated Covid-19 related loan losses.