Op Risk Fears In East European Banking


LONDON -- Operational risks stemming from the uncertain quality of local management must remain a major concern for Western financial groups taking stakes in central and East European banks.

Any Western bank buying into some of the region's banks "walks in with a blindfold" as far as the competence and even honesty of local management is concerned, says Samuel Theodore, London-based managing director, European banks at global credit-rating agency Moody's Investors Services.

He was commenting to O

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