ABSTRACT
Financial-sector development and efficiency have always been considered as key factors to the successful implementation of economic reforms. Recently their importance took on new dimensions in the context of European integration. Both market and regulatory actions may drive financial institutions to consolidate into a single European market (Berger 2003). Central and Eastern European (CEE) countries’ banking sectors are naturally aspiring to these processes and their successful convergence can both be influenced by and influence the enhancement of European integration in the financial services industry.
