Three government-owned banks posts lower net

Three government-owned banks - Dena Bank, Bank of Baroda and Oriental Bank of Commerce on Thursday - declared lower net profit for the first quarter on 2015-16 as compared to corresponding quarter the previous year.

In a regulatory filing in BSE, Dena Bank said it has posted a net profit of Rs.15.16 crore on a total income of Rs.2,914.87 crore for the quarter ended June 30 down from Rs.81.52 crore on a total income of Rs.2,824.58 crore for the same quarter last fiscal.

Bank of Baroda posted a net profit of Rs.1,052.15 crore on a total income of Rs.12.243.72 crore for the quarter. In the corresponding period of the previous fiscal, it posted higher net profit of Rs.1,361.88 crore on a total income of Rs.11,682.50 crore.

On its part, Oriental Bank posted a net profit of Rs.257.84 crore on a total income of Rs.5,568.78 crore for the quarter as against a net profit of Rs.364.54 crore on a total income of Rs.5,576 crore posted for the quarter last fiscal.