In an earlier post, I had mentioned how Bank MD’s show poor results immediately after taking over.This serves the dual purpose of starting with a clean slate and showing the predecessor in a poor light.
The same saga is repeating at Dhanlaxmi Bank where P G Jayakumar has taken over after the resignation of Amitabh Chaturvedi.
The latest results for FY2012 indicate a loss of 115 Crores as opposed to a profit of 26 Crores last year.
Ah well…