12  BIS Review 82/2009  Austrian banks were first movers in the CESEE and CIS banking markets in the late 1980s. Since then, they have continuously expanded their market presence and are now significant players across the whole region.
Among foreign banks operating in CESEE and the European members of CIS, Austrian banks have a significant market share, namely about one-fifth of bank credits extended to this region (as direct cross-border credits or indirectly via subsidiaries in these countries).