OBC posts net profit of Rs 21.62 cr in Q4

Public sector lender Oriental Bank of Commerce (OBC) today reported a profit of Rs 21.62 crore in March quarter as against a net loss of Rs 178.44 crore in the corresponding period of 2014-15, on the account of tax gain. 

Total income declined 4.68 percent to Rs 5,451.6 crore during the quarter from Rs 5,719.39 crore in the same period last year. 

The bank's provisioning for bad loans during the quarter under review stood at Rs 1,026.11 crore during the quarter, up from Rs 1,106.57 crore in the March quarter of the previous fiscal. 

The bank has reported a tax gain of Rs 169 crore for the quarter. However, its gross non-performing assets (NPA) of the bank as a percentage to total advances rose to 9.57 percent at the end of fourth quarter from 5.18 percent a year ago. 

 Net NPAs during the quarter were 6.7 percent as against 3.34 percent in the last quarter of 2014-15. 

For the full fiscal, the bank's net profit dipped to Rs 156.08 crore compared with Rs 497.08 crore in 2014-15. 

 Total income also decreased marginally to Rs 21,824.99 crore in 2015-16 from Rs 22,082.78 crore a year ago. Shares of OBC were trading 0.23 percent lower at Rs 87.15 in afternoon trade on BSE.

Share:

No comments:

Post a Comment


  Useful links for Bankers
   * Latest DA Updates
   * How to recover Bad loans/NPA Acs
   * Latest 12th BPS Updates
   * Atal Pension Yojana (APY)
   * Tips while taking charge as Manager
   * Software used by Banks in India
   * Finacle Menus, Shortcuts & Commands
   * Balance Inquiry Number of all Banks
   * PSU & Private Banks Quarterly result
   * Pradhan Mantri Awas Yojana (PMAY)

Contact Form

Name

Email *

Message *