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The New Challenges of the Western Balkan Banking Industry During Ongoing Global Crisis

The New Challenges of the Western Balkan Banking Industry During Ongoing Global Crisis The current energy crisis, COVID-19 pandemic and the ongoing crisis in Ukraine have been negatively affecting several channels, including energy, trade and the financial sector. As banks play the main role in all real sector business activities, it is of great importance to examine the impact of the COVID-19 pandemic and the Ukraine crisis on bank performances. Currently, banks are showing weaker profitability after the strong recovery in 2021, while the world is facing the impact of the war on energy prices, inflation and growth, which reinforces the existing vulnerabilities. This article assesses the impact of the current crisis on the financial performance of the banking sector in the Western Balkans. Our study shows that the energy and COVID-19 crisis have had a detrimental effect on the financial performance of banks in the Western Balkans. Furthermore, the Ukraine crisis will prolong and extend these negative effects on the financial stability and liquidity of the banking sector in Western Balkans. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Balkan and Near Eastern Studies Taylor & Francis

The New Challenges of the Western Balkan Banking Industry During Ongoing Global Crisis

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References (25)

Publisher
Taylor & Francis
Copyright
© 2023 Informa UK Limited, trading as Taylor & Francis Group
ISSN
1944-8961
eISSN
1944-8953
DOI
10.1080/19448953.2023.2167166
Publisher site
See Article on Publisher Site

Abstract

The current energy crisis, COVID-19 pandemic and the ongoing crisis in Ukraine have been negatively affecting several channels, including energy, trade and the financial sector. As banks play the main role in all real sector business activities, it is of great importance to examine the impact of the COVID-19 pandemic and the Ukraine crisis on bank performances. Currently, banks are showing weaker profitability after the strong recovery in 2021, while the world is facing the impact of the war on energy prices, inflation and growth, which reinforces the existing vulnerabilities. This article assesses the impact of the current crisis on the financial performance of the banking sector in the Western Balkans. Our study shows that the energy and COVID-19 crisis have had a detrimental effect on the financial performance of banks in the Western Balkans. Furthermore, the Ukraine crisis will prolong and extend these negative effects on the financial stability and liquidity of the banking sector in Western Balkans.

Journal

Journal of Balkan and Near Eastern Studies – Taylor & Francis

Published: Jul 4, 2023

Keywords: Banking industry; financial performance; bank performance; Covid-19 crisis; Ukrainian crisis

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