Bloomberg Bank of Korea (BOK) Governor Lee Ju Yeol warned on Wednesday that economic growth for 2016 is poised to fall below 3 percent and said the impact of further interest-rate cuts may be limited. The comments come amid a change in the BOK’s board and speculation of additional rate cuts given the ruling party’s request for the bank to ...

Bloomberg National Bank of Kenya Ltd. placed Managing Director Munir Ahmed on compulsory leave pending an internal audit, a day after dismissing speculation on social media that he’d been fired. Five top managers were also sent on leave, the Nairobi-based lender said in an e-mailed statement. The board appointed Wilfred Musau as acting-chief executive officer, it said. “The aforementioned actions ...

JOHANNESBURG / Reuters South African lender Capitec Bank Holdings reported a 26 percent rise in full-year profit on Wednesday, in line with forecast, as growth in client numbers boosted both interest and transaction fee income. Capitec, which grants loans not supported by assets, said it gained 1 million active clients, to total 7.3 million customers, over the past year as ...