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Emerging Markets

Russian banks square up to the West

The strength of growth markets compared to the anaemic climate in the West has been routinely highlighted since the start of the financial crisis. Over the last year, evidence of that strength has shown up in banks’ capital markets activities — in Russia in particular, local banking muscle is being flexed. Francesca Young finds out what the effect has been on other financial institutions operating in the region, and what is next for the sector.

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