OBC FY07 net up marginally to Rs 581cr

Oriental Bank of Commerce (OBC) today reported a 4% increase in net profit at Rs 580.81 crore for the year ended March 31, 2007 when compared with Rs 557.16 crore in FY06.

According to a release issued to the BSE today, total income increased to Rs 5,768.16 crore from Rs 4,671.69 crore for the year ended March 31, 2006.

The bank posted a 73% decline in net profit at Rs 54.86 crore in Q4FY07 when compared with Rs 204.94 crore for the quarter ended March 31, 2006. Total income increased to Rs 1,577.29 crore from Rs 1,233.54 crore for the quarter ended March 31, 2006.