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A 76% year-on-year climb in third-quarter net profit, accompanied by a plunge in the share price on the day it is announced: these are complicated times for a bank in Asia, a region in the midst of a worsening trade war.
“Our own sense is that the direct impact of the trade war on the macroeconomics will not be as material as people worry,” chief executive Piyush Gupta said at the results briefing.
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