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You could have almost bet that profits of State Bank of India would dip in this quarter. And that wouldn't have required any insider to tip you off about poor numbers!
Just look at its recent history and a strange phenomenon becomes visible. Every time there is a change of guard at the top of State Bank of India that means lower profits in the immediately succeeding quarter.
Mr Pratip Chaudhuri took over as Chairman of State Bank of India less than two months ago from Mr O.P. Bhatt. This is the first results announcement in his tenure. Profits have dropped a whopping 99 per cent — compared with both the immediately preceding quarter as well as the same period last year. The scale of drop may have been unexpected although the drop itself would have been predictable — simply because it has happened often enough in the past.
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