Quotes of the month

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May 2019

“We believe financial services, run well in India, could grow at 1.5 to 2 times nominal GDP, which takes you to between 16% and 20% plus”

Uday Kotak, founder and chief executive of Kotak Mahindra, says that India is going to go through a structural transformation in the next three to five years


“Just being one of the biggest banks does not make us one of the strongest. We cannot expect to be world class in everything, but we do have specific targets in areas that will make us the best in terms of quality”

Sun Yu, executive vice-president of the Bank of China, is looking for high-quality targeted growth


“Of course, alpha is a tough game. But at the same time GIC affords our alpha teams some advantages: the time horizon, the size, the connections that we have with the investee community. I hope they feel like it is fair game that they have to deliver that”

Lim Chow Kiat, chief executive of Singapore’s GIC, has tough but fair expectations of his team


“Now that we can no longer raise new capital on the international market, profitability is key… It’s our only source of capital for growth and expansion”

The need to bolster lacklustre returns on equity has become increasingly urgent for Andrey Kostin, VTB chairman


“Refugees can own and run their own business, purchase goods and services, and access and use a variety of financial services. The case for banking them is strong”

Marion Kimani, forcibly displaced people manager at Financial Sector Deepening Africa, says that refugees are a large, entrepreneurial and untapped group of customers for banks