Obc Earnings

Rashtriya Janata Dal leader Tejashwi Yadav today slammed the manner in which the Narendra Modi government had implemented 10% reservation for the economically backward among the upper castes, saying that its consequences will be just as damaging for the nation as the demonetisation initiative in 2016. "We strongly oppose the hasty way in which the ...

Against a loss of Rs 1,650 crore this quarter, Oriental Bank of Commerce (OBC) posted losses of Rs 1,218 crore in the year ago period

The bank's net profit stood at Rs 301.31 crore in the July-September quarter of 2015-16.

Ahead of the strategically crucial Uttar Pradesh election, the government is prepping to update affirmative action policies to address the job crisis confronted by Other Backward Classes or OBCs.

Public sector lender Oriental Bank of Commerce (OBC) on Wednesday reported a profit of Rs 21.62 crore in March quarter as against a net loss of Rs 178.44 crore in the corresponding period of 2014-15, on the account of tax gain.

Gross non-performing loans of Oriental Bank increased 38 per cent sequentially to Rs 11,825 crore. As a percentage of total advances, gross non-performing loans stood at 7.75 per cent against 5.70 per cent sequentially.

On the operational front, OBC reported a net profit of Rs 301 crore on net interest income (difference between interest earned on advances minus given on deposits) of Rs 1,383 crore meeting Street estimates.

Oriental Bank of Commerce reported a 29 per cent drop in net profit at Rs 257.84 crore for April-June quarter of the current fiscal, on higher provisioning for bad debt or non-performing assets (NPAs).

However, OBC could not deliver a big surprise on the operational front. It reported a loss of Rs 178 crore in the quarter versus Rs 310 crore year-on-year. Analysts said losses were on account of exceptional items.

OBC's net profit was impacted by higher provisions for bad loan , which increased over 58 per cent year-on-year to Rs 885 crore against Rs 561 crore last fiscal.

The bank's provisioning during the quarter increased to Rs 641 crore from Rs 551 crore in the September quarter of 2013-14 fiscal.

The banks' bad loans increased to 3.29 per cent of advances in Sept-quarter versus 3.11 per cent in June quarter.

OBC's gross NPA increased to 4.33 per cent of total advances as against 3.99 per cent reported last quarter and 3.36 per cent in the same period last fiscal. Its net NPA as a percentage of total advances stood at 3.11 per cent as against 2.82 per cent sequentially.

The total income of the bank increased to Rs 5,655.36 crore for the quarter ended March 31, 2014 from Rs 4,564.53 crore in the quarter ended March 31, 2013, OBC said in a statement.

Term deposits with maturity of 31-45 days would earn interest rate of 9.25 per cent, higher by 3.25 per cent from existing 6 per cent, OBC said in a statement.

Rashtriya Janata Dal leader Tejashwi Yadav today slammed the manner in which the Narendra Modi government had implemented 10% reservation for the economically backward among the upper castes, saying that its consequences will be just as damaging for the nation as the demonetisation initiative in 2016. "We strongly oppose the hasty way in which the ...

Against a loss of Rs 1,650 crore this quarter, Oriental Bank of Commerce (OBC) posted losses of Rs 1,218 crore in the year ago period

The bank's net profit stood at Rs 301.31 crore in the July-September quarter of 2015-16.

Ahead of the strategically crucial Uttar Pradesh election, the government is prepping to update affirmative action policies to address the job crisis confronted by Other Backward Classes or OBCs.

Public sector lender Oriental Bank of Commerce (OBC) on Wednesday reported a profit of Rs 21.62 crore in March quarter as against a net loss of Rs 178.44 crore in the corresponding period of 2014-15, on the account of tax gain.

Gross non-performing loans of Oriental Bank increased 38 per cent sequentially to Rs 11,825 crore. As a percentage of total advances, gross non-performing loans stood at 7.75 per cent against 5.70 per cent sequentially.

On the operational front, OBC reported a net profit of Rs 301 crore on net interest income (difference between interest earned on advances minus given on deposits) of Rs 1,383 crore meeting Street estimates.

Oriental Bank of Commerce reported a 29 per cent drop in net profit at Rs 257.84 crore for April-June quarter of the current fiscal, on higher provisioning for bad debt or non-performing assets (NPAs).

However, OBC could not deliver a big surprise on the operational front. It reported a loss of Rs 178 crore in the quarter versus Rs 310 crore year-on-year. Analysts said losses were on account of exceptional items.

OBC's net profit was impacted by higher provisions for bad loan , which increased over 58 per cent year-on-year to Rs 885 crore against Rs 561 crore last fiscal.

The bank's provisioning during the quarter increased to Rs 641 crore from Rs 551 crore in the September quarter of 2013-14 fiscal.

The banks' bad loans increased to 3.29 per cent of advances in Sept-quarter versus 3.11 per cent in June quarter.

OBC's gross NPA increased to 4.33 per cent of total advances as against 3.99 per cent reported last quarter and 3.36 per cent in the same period last fiscal. Its net NPA as a percentage of total advances stood at 3.11 per cent as against 2.82 per cent sequentially.

The total income of the bank increased to Rs 5,655.36 crore for the quarter ended March 31, 2014 from Rs 4,564.53 crore in the quarter ended March 31, 2013, OBC said in a statement.

Term deposits with maturity of 31-45 days would earn interest rate of 9.25 per cent, higher by 3.25 per cent from existing 6 per cent, OBC said in a statement.