Public Sector Bank – Oriental Bank of Commerce (OBC) has posted a net profit of Rs. 112.70 Crore. The company had posted a loss of Rs. 393.2 Crore in the year ago period. The Bank’s higher management clarified that the Bank has posted a profit due to better asset quality and less provisions. The Bank has been focusing on retail lending with special focus on RAM (Retail, Agriculture and MSME Advances) and recovery.
Gross NPA of the Bank stood at 12.56 % as against 12.66%. Net NPA stood at 5.91% against 5.93% QonQ.
Oriental Bank of Commerce has been a better public sector bank among its peers both in terms of business efficiencies and human resource practices. The Bank had also figured in the First list released by RBI to come out of PCA (Prompt Corrective Action of the Regulator).
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