Bloomberg Jim Yong Kim abruptly resigned as president of the World Bank more than three years ahead of schedule, potentially sparking an international tussle over who replaces him as the Trump administration questions the development lender’s purpose. Kristalina Georgieva, the bank’s second in command, will take over as interim president on February 1, the Washington-based bank said in a statement. ...

Bloomberg Bandhan Bank Ltd, India’s newest lender, will combine with mortgage financier Gruh Finance Ltd in a $11.7 billion deal, bringing the bank closer to meeting shareholding rules and helping it accelerate expansion. Investors in Gruh Finance, controlled by Housing Development Finance Corp, India’s biggest mortgage lender, will get 568 shares of Bandhan Bank for every 1,000 they own, according ...

Bloomberg Bank stock downgrades keep piling up as analysts caution about interest rates and credit with fourth-quarter earnings due to kick off next week. Raymond James downgraded 13 banks and lowered earnings estimates for most banks across its coverage. Analysts David Long and Michael Rose expect “abundant” downward revisions to net interest margin “with rates no longer providing such a ...