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Our Bureau

New Delhi , Dec. 29

Oriental Bank of Commerce (OBC) has crossed another milestone, with the total business of the bank touching the Rs 1,00,000 crore mark on December 22.

The public sector bank expects to close the current calendar year with total business of over Rs 1,01,000 crore, its Chairman and Managing Director, Mr K.N. Prithviraj, said here on Friday.He was speaking on the occasion of the inauguration of the 1000th core banking solution (CBS) branch with the 600th automated teller machine (ATM) of the bank here in the capital. The 1000th CBS branch was inaugurated by Mr Vinod Rai, Secretary (Financial Sector).

With the 1000th CBS, the bank has covered 93.1 per cent of its total business (deposits, advance, trade finance and forex transactions) under CBS environment.

OBC plans to take up another 50 branches on CBS by March 2007 so as to raise the total number of CBS branches to 1050 by the end of the fiscal year. Mr Prithviraj said that the entire network of service outlets would be brought under CBS by December 2007. Currently, OBC has a network of 1240 branches.

More Stories on : Public Sector Banks | Oriental Bank of Commerce

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