Bloomberg African banks need to improve operating efficiencies and mitigate other risks quickly to avoid a revenue slump of as much as $48 billion over the next three years. If risks go unchecked, multiple years of low profitability will likely follow, according to a report by McKinsey. “Lessons from the 2008 economic crisis suggest that, in times of crisis, speed ...

Bloomberg JPMorgan Chase & Co. said it plans to hire 300 additional Black and Latinx wealth advisers by 2025 to serve more clients from those communities and allow employees from diverse backgrounds to advance in their careers. “We want to drive a step change in the representation of financial advisers” at JPMorgan, Kristin Lemkau, chief executive officer of the bank’s ...

Bloomberg China’s central bank estimated the maximum the economy can expand without fueling inflation, known as the potential growth rate, is under 6% in the next five years. In a working paper, the statistics department of the People’s Bank of China (PBOC) said potential growth was projected at 5%-5.7% in the period covering the government’s latest five-year plan through 2025. ...