European banks’ not so hidden risks – pt 2

See pt 1: European banks’ not so hidden risks Take the Ukraine operations of Austrian bank Raiffeisen Bank International (WBAG:RBI). Ukraine is an often-corrupt, always-difficult place for foreigners to do business. I once met a successful investor who said he would never invest a cent in Ukrainian stocks, ‘some markets just don't let foreigners make money, too rigged’. Considering this investor had put together a superb long-term track record running a fund entirely focused on Russia—of all places—his words held weight. Raiffeisen’s Ukraine operations elicit concern for several reasons. Firstly, at year end 2012, a whopping 34.7% of the...

See pt 1: European banks’ not so hidden risks


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