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Oriental Bank of Commerce NPA divergence stood at Rs 968 cr in FY17

Press Trust of India  |  New Delhi 

of Commerce (OBC) today reported a divergence of Rs 968 crore in its gross non-performing assets (NPAs) for 2016-17.

As per the bank, its gross NPAs as on March 31, 2017 stood at Rs 22,859.27 crore, while the same as assessed by RBI for the reported year stood at Rs 23,827.17 crore, OBC said in a BSE filing.

The divergence in the gross NPAs for 2016-17 stood at Rs 967.90 crore.

As per an RBI directive in April 2017, banks have been advised to make disclosure in a prescribed format of the divergence in the asset classification and provisioning.

The difference in bad loan proportion resulted in a notional adjustment net loss of the which widened to Rs 2,839.17 crore for 2016-17. The had reported a net loss of Rs 1,094.07 crore in the same fiscal.

The divergence in provision for OBC was at Rs 1,693.70 crore in 2016-17.

Oriental Bank of Commerce's (OBC) net loss widened to Rs 1,650.22 crore for the quarter ended March 2016-17 on a huge jump in provisioning for bad loans.

The bank had made a net loss of Rs 1,218.01 crore during the corresponding quarter of preceding fiscal ended March 2017.

Total income of the bank during January-March quarter of 2017-18 came down to Rs 4,689.12 crore as against Rs 5,093.84 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 12 2018. 16:00 IST
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