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Oriental Bank climbs after strong Q2 figures

Capital Market 

Oriental Bank of Commerce rose 3.28% to Rs 51.90 after net profit rose 23.7% to Rs 125.90 crore on 14.8% rise in total income to Rs 5,702.34 crore in Q2 September 2019 over Q2 September 2018.

The result was announced after market hours yesterday, 22 October 2019.

The bank's gross non-performing assets (NPAs) stood at Rs 20,581.71 crore as on 30 September 2019 as against Rs 21,369.05 crore as on 30 June 2019 and Rs 25,673.31 crore as on 30 September 2018.

The ratio of gross NPAs to gross advances stood at 12.53% as on 30 September 2019 as against 12.56% as on 30 June 2019 and 17.24% as on 30 September 2018.

The ratio of net NPAs to net advances stood at 5.94% as on 30 September 2019 as against 5.91% as on 30 June 2019 and 10.07% as on 30 September 2018.

The bank's provisions and contingencies fell 10.19% to Rs 964.30 crore in Q2 September 2019 over September 2018.

Provision coverage ratio of the bank was at 77.13% as on 30 September 2019.

Net Interest Income (NII) jumped 14.74% to Rs 1,456 crore in Q2 September 2019 over Q2 September 2018. Net Interest Margin (NIM) gained 6 bps to 2.62% in Q2 September 2019 over Q2 September 2018.

The Current Account-Savings Account (CASA) advanced 6.42% to Rs 68,046 crore in Q2 September 2019 compared with Rs 63,942 crore in Q2 September 2018. CASA ratio declined 75 bps to 30.22% in Q2 September 2019 over 30.97% in Q2 September 2018.

The Capital Adequecy Ratio (CAR) stood at 14.03% in Q2 September 2019 compared with 13.77% in Q1 June 2019.

Meanwhile, the S&P BSE Sensex was up 182 points or 0.47% to 39,146.06.

On the BSE, 87,901 shares were traded in the counter so far compared with average daily volumes of 1.14 lakh shares in the past two weeks. The stock hit an intraday high of Rs 52.75 and an intraday low of Rs 51.30 so far during the day.

The stock hit a 52-week high of Rs 119 on 1 April 2019. The stock hit a 52-week low of Rs 48.85 on 22 October 2019.

Oriental Bank of Commerce (OBC) is a scheduled commercial bank. Its segments include treasury operations, corporate/wholesale banking, retail banking and other banking business operations.

As on 30 September 2019, the government held 87.58% stake in OBC.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 23 2019. 12:44 IST
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