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OBC Q2 net rises 16% to Rs 291 crore, bad loans jump

New Delhi: Public sector Oriental Bank of Commerce (OBC) today reported 16 per cent growth in net profit at Rs. 291.42 crore for the second quarter ended September 30.The bank had a net profit of

PTI [ Updated: October 29, 2014 15:40 IST ]
obc q2 net rises 16 to rs 291 crore bad loans jump
obc q2 net rises 16 to rs 291 crore bad loans jump

New Delhi: Public sector Oriental Bank of Commerce (OBC) today reported 16 per cent growth in net profit at Rs. 291.42 crore for the second quarter ended September 30.

The bank had a net profit of Rs. 251.41 crore in the July-September quarter of previous 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.

Interest income of the bank grew 5.56 per cent to Rs. 4,936 crore in the September quarter.

Net NPA as a percentage of total advances stood at 3.29 per cent as against 2.69 per cent in the year-ago period.

Total income of the bank increased to Rs. 5,328.58 crore for the quarter ended September 30 from Rs. 4,987.71 crore in the same period last fiscal.

OBC shares were trading 4.68 per cent down at Rs. 265.80 per scrip during afternoon trade on the BSE.

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