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India’s SBI net down 7%, beats estimates

State Bank of India, India’s largest state-owned bank, has reported a drop in third-quarter net profit, mainly driven by an increase in provisions against bad loans. For the October-December quarter it reported a 6.9% year-on-year drop in standalone net profit at 52 billion rupees (US$713 million), down from 55.83 billion in the year-ago quarter. On […]

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