Oriental Bank Profit Rises 43% In Fy03

Oriental Bank of Commerce today reported a 87.3 per cent jump in net profit during the fourth quarter of fiscal 2002-03 to Rs 119.49 crore compared with Rs 63.80 crore during the corresponding quarter of the previous fiscal.

During the fiscal 2002-03, the bank posted a 43 per cent rise in profit at Rs 457 crore compared with Rs 320.55 crore in the previous fiscal.

Total income during the fourth quarter was marginally lower at Rs 981.60 crore (Rs 997.66 crore) due to lower income on investments and a fall in sundry income.

During 2002-03, however, the income grew 9.14 per cent to Rs 3,835.66 crore (Rs 3,514.38 crore).

 

Interest payments during the fourth quarter dipped to Rs 7.76 per cent to Rs 498.47 crore (Rs 540.39 crore). BD Narang, the bank