OBC Net Profit Leaps 16% to Rs 291 cr in Q2

Published: 30th October 2014 06:00 AM  |   Last Updated: 29th October 2014 11:14 PM   |  A+A-

NEW DELHI: Public sector Oriental Bank of Commerce (OBC) net profit increased 15.91 per cent to Rs 291.42 crore for the second quarter ended September against Rs 251.41 crore posted in the same quarter last fiscal.

“The net profit of bank has gone up primarily due to rise in non-interest income and good recovery,” OBC Executive Director Bhupinder Nayyar told reporters here on Wednesday.

OBC.jpgThe non-interest income of the bank rose 25.90 per cent to Rs 392.64 crore (Rs 311.87 crore) and made a recovery of Rs 339 crore (Rs 314 crore) during the quarter undere review.

The gross NPAs as a percentage of total advances rose to 4.74 per cent (3.77 per cent).

The bank’s net NPAs were up to 3.29 per cent (2.69 per cent). Fresh slippages to NPA were, however, contained at Rs 978 crore (Rs 1,041 crore).

Last fiscal, the bank had recorded a net profit of Rs 1,139.41 crore. The bank reported a total income of Rs 10,904.60 crore in the first six months as compared to Rs 10,243.41 crore in the same period of previous financial year.

Total business of the bank as on September 30 stood at Rs 3,26,690 crore (Rs 3,04,919 crore), registering a growth of 7.14 per cent.


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