The Economist published an interesting chart a couple of weeks ago. Just dug it out of the online edition:
It appears that Eastern Europe’s native banks (with the exception of Hungary’s OTP) have been dwarfed by larger institutions from the West. At least some of the time, this happened via acquisitions (e.g., acquisition of 53.2% of Poland’s second-largest Bank Pekao by UniCredito in 1999).
I wonder what (if any) the impact was on the wages in the financial services sector…
Another one to ponder: how do you even begin to think of a market where nearly all major players are small segments of much larger organizations?