Raiffeisen insiders insist the bank’s current woes stem from circumstances beyond its control. Outsiders say the business is now paying for the sins of the past. A new leadership is desperately trying to reposition a bank whose most important markets are in turmoil, and whose ownership structure leaves it with unique capital challenges. CEO Karl Sevelda has a mountain to climb.

New rules to boost risk-weighted assets at G-Sibs are ramping up the pressure on those banks to change their business model, and become less global. Latin American markets, until recently a battleground for global banks, could now see several of them retreat. Are local banks about to benefit from a less competitive environment?

Fear is spreading over the financial system’s vulnerability to increased volatility stemming from a broken and illiquid credit bond market. All participants agree the secondary trading is undergoing fundamental change as the big banks that used to make markets withdraw their capital, but no one has a vision for how it will alter. A new breed of banks, though, is making headway against the headwinds.

Europe remains chronically overbanked, and its banks are resolutely underperforming. Surely the answer lies in M&A? But with regulatory uncertainties still distracting boards and chief executives, the low-hanging fruit of European finance is likely to remain unpicked for now.

Technocrat Bambang Brodjonegoro has plans to turn the country’s state-owned enterprises into regional, if not global, leaders. But the fall in the oil price could quickly scupper his ambitions, unless he can improve Indonesia’s terrible record on tax collection.

The rouble’s crash sent currencies tumbling across the Caucasus and Central Asia. Banks look relatively well placed to withstand an inevitable downturn. But with protracted stagnation looming, is it time for policymakers to build bridges further afield?

The relationship between finance and politics might look fraught today, but it has always been more nuanced than you might realise.

Inspired by the previous government’s agenda, Nigeria’s banks loaded up on loans to local oil and gas companies. The rapid decline in the price of oil has put many of the companies they lent to in distress. Can the banks cope with the potential fall-out?

Funds ‘more selective’, say bankers; private equity exits boost supply.

Regulator hands bank biggest fine yet; Dubai shakes off ‘anything-goes’ tag.

Move raises profile of Asia Pacific; Bird heralds ‘Asia’s century’.

Investors and issuers think alternative energy might soothe the bruises left by the failure of African Bank.

Beijing has ambitious plans for market; international funds will find it ‘hard to ignore’.

There was virtual dancing on Wall Street after investment banks unveiled their first quarter results.

Labour-led government likely to have most negative impact; bank earnings under pressure from legislative wave.

The eurozone recovery looks increasingly secure but the low growth rate is still a big cause for concern.

Vestager calls for clarity on use in bank capital; CRD IV loophole may close for southern Europe.

Mifid II forbids the free provision by banks of any benefit to asset managers that induces business, and that will have a big impact on bond research.

Peaceful elections in Nigeria herald a new era for the country, but will the elation last while depressed oil prices hold back the country’s development?

The growth and globalization of Islamic finance over the past decade has been a rare success story for the financial industry. Here, Euromoney examines the challenges the sector faces to rise to the next level. Throughout the section, we highlight the banks, advisers, issuers and companies that are moving the industry forward, in Euromoney’s inaugural Innovation in Islamic finance awards.

With expanding economies and hundreds of million Muslims, Africa deserves to be a bigger part of Islamic finance. After a slow start, there are signs the sector is beginning to gain the crucial mass and legislative backing it needs.

As liquidity improves and conventional buyers become more familiar with it, the premium for issuing in an Islamic format is shrinking. Emerging market issuers may still hold the most promise for the future

International banks used to dominate Islamic finance. But their desire to innovate risked the market straying from its principles. Local and specialist firms have benefited from their withdrawal. But can they take Shariah-compliant finance to the next level without repeating the mistakes of the past?

As Islamic banking ponders its next stage of development, it would be wise to consider the appeal of ethical investing.

Fears of Pillar 1 capital charge; Rules may hit earnings and concentrate risk.

The big three credit rating agencies (CRA), regulators hope, are dying a slow death.

Banco Sabadell might find the capital costs of its TSB merger experiment tougher than initially anticipated if the European Commission turns against deferred tax assets.

Blackstone and Norway’s SWF lead charge; boom in e-commerce driving interest.

GECC debt cheaper than Wells, BAML and JPMorgan; further sales imminent.

Passive strategy could be ‘painful mistake’; US rate hike will pull euro yields higher.