BRSA Drafts Shorter Terms for Top Bank Executives

The Banking Regulation and Supervision Agency (BRSA) has prepared a comprehensive draft aimed at restructuring the banking sector. According to the draft sent to banks, the terms of office for bank general managers (CEOs) and deputy general managers will be limited to a maximum of 10 years at the same institution. For deputy general managers, this period may be extended by an additional 5 years under certain conditions.

According to the draft, branch managers can work at the same branch for a maximum of 4 years, while regional managers can serve in the same region for a maximum of 5 years. If they are not appointed on an official basis, their terms in acting positions may not exceed 6 months.