OBC Q2 net up 31% to Rs 215 cr

BS 200 SCORECARD

Oriental Bank of Commerce has reported a 31 per cent increase in net profit to Rs 214.89 crore for the second quarter of the current financial year as against Rs 162.83 crore during the corresponding quarter last year.

The bank's income, however, fell 10.58 per cent to Rs 918.61 crore though interest income increased over 6 per cent to Rs 852.57 crore. During the first half-ended September, net profit was up 29 per cent to Rs 395.41 crore (Rs 305.17 crore).

Total income was 6 per cent lower at Rs 1,883.72 crore despite a 6 per cent increase in interest income at Rs 1,717.82 crore. Capital adequacy ratio was at 16.07 per cent and it provided for all assets to maintain zero non performing assets on its books.

OBC's business was estimated to have grown 22 per cent to Rs 58,488 crore (Rs 47,847 crore). Its advances portfolio grew by 24.21 per cent to Rs 21,008.73 crore while deposits rose 21 per cent to Rs 37,479 crore.