- OBC or Oriental Bank of Commerce reported on Thursday that there was an increase of 39.4 (percent) in profits for the third quarter ended at ₹ 202 crores (₹ 145 crores).
- Oriental Bank of Commerce (OBC) is now looking at a total profit of at least ₹ 1,000 crores for 2019-20, following massive debt growth and a huge record of profits and account losses from four major NCLT ticket cases.
- The public sector bank, on Monday, reported a total profit of ₹ 55 crores in 2018-19, which is volatile, as the lender has netted the loss of the net two years ago.
- The public sector bank, which is expected to merge with PNB from April 1, recorded a total profit of ₹ 126 crores in the September quarter of this amount. Total revised quarterly revenue increased to, 5,643 crores (₹ 5,128 crores) while operating profits increased by 21.06 percent to 21 1,213 crores (₹ 1,002 crores).
- For a nine-month period ending December 31, 2019, OBC recorded a total profit of ₹ 440 crores compared to a total loss of ₹ 147 crores over the same period last year.
- The shares on Wednesday exceeded more than 5 percent of Oriental Bank of Commerce after that the company reported a 23.5 percent increase in profits for the second quarter.
- The script received 4.97 percent to. 52.75 on BSE. On the NSE, it increased by 5.26 percent to. 52.95.
- The state-owned bank had transferred a total of ₹ 102 crores in the corresponding period of July and September of the previous financial year.
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- Bank revenues increased by 15% to, 5,702 crores in July-September compared to ₹ 4,967 crores in the previous year.
This key performance in the review quarter was higher than the total profit of ₹ 113 crores recorded in the last quarter.
- Total revenue during the second quarter remained at ₹ 5,702 crores, which is actually much higher than the level of 4,967 crores for the same quarter.
- In the first half of this amount, OBC reported a net profit of 239 crores (loss of ₹ 292 crores).
- OBC-free loans or bad loans have dropped to 12.53 percent in the main development sector.
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