Oriental Bank of Commerce posts Q4 net loss at 178 cr

Pulled down by higher provisioning, Oriental Bank of Commerce (OBC) today reported a net loss of Rs 178.44 crore in the March quarter of financial year 2015.
The bank, however, had posted a net profit of Rs 310.32 crore in the fourth quarter of 2013-14 fiscal.
It has reported a high provisioning for bad loans at Rs 1,106.57 crore during the quarter up from Rs 930.71 crore in the March quarter of previous fiscal.
Gross non-performing assets (NPA) of the bank as a percentage to total advances rose to 5.18 per cent at the end of fourth quarter from 3.99 per cent in the same period a year ago.

Interest income during March quarter rose to Rs 5,090.86 crore from Rs 4,900.82 crore in the year ago period.
Total income increased to Rs 5,719.39 crore during the quarter from Rs 5,655.36 crore in the same period last year.

For the full fiscal, the bank's net profit dipped 56.37 per cent to Rs 497.08 crore. It had a net profit of Rs 1,139.41 crore in 2013-14 fiscal.
Total Income increased to Rs 22,082.78 crore in 2014-15 from Rs 20,962.75 crore for the year ended March 31, 2014.
Shares of OBC were trading higher by 6.25 per cent at Rs 205.75 in afternoon trade on the BSE.