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Oriental Bank of Commerce Q1 net loss at Rs 486.20 cr

Press Trust of India  |  New Delhi 

Public sector of Commerce (OBC) today reported a net loss of Rs 486.20 crore for the first quarter ended June, due to lower and higher provisioning for bad loans.

The had posted a net profit of Rs 100.69 crore in the April-June quarter of the previous fiscal.

Total of the also fell to Rs 5,204.45 crore for the quarter under review from Rs 5,397.92 crore in the year-ago period.

On asset front, challenges persisted during the quarter, as gross non-performing assets (NPAs) rose to 14.83 per cent of gross advances, as against 11.45 per cent year ago.

Net NPAs also rose to 9.56 per cent of net advances as of June 2017, against 8.11 per cent a year ago.

The rise in bad loans proportion led to higher provisioning of Rs 1,591.48 crore for the quarter ended June 2017 as against Rs 1,147.49 crore in the year-ago period.

of OBC closed 7.09 per cent down at Rs 117.90 on

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

First Published: Fri, August 11 2017. 16:42 IST