Bloomberg Shares of Kotak Mahindra Bank Ltd were the most hit among peers after the Reserve Bank of India (RBI) capped founder’s tenure as chief executive officer of a bank to 15 years. That gives the world’s wealthiest banker Uday Kotak less than three years to find a successor, according to a note by Suresh Ganapathy, an analyst at Macquarie ...

Bloomberg Citigroup Inc’s decision to exit retail banking operations in 13 markets outside the US including China was crucial for its ability to redeploy capital to areas where it can make bigger profits, according to an internal memo by the bank’s Asia-Pacific chief. “This was not about any specific markets or the attractiveness of individual consumer markets,” Peter Babej said ...

Bloomberg Zimbabwe’s CBZ Bank Ltd., the country’s biggest lender, begun voluntary job cuts as it deals with the fallout from the coronavirus pandemic on the corporate landscape. The bank needs to review its structures and operations to adapt to new ways of working, according to a memo from group CEO Blessing Mudavanhu and its chief human resources officer. “The manner ...