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Bangalore Jan. 24 Oriental Bank of Commerce (OBC) has reported a net profit of Rs 182.42 for the third quarter of the financial year 2007 up 27 per cent over the corresponding period of the last financial year.

OBC's operating profit for the third quarter this year was Rs 306.68 crore up from Rs 298.81 crore. The bank's gross income rose to Rs 1446.72 crore up from Rs 1176.14 crore.

The improved income was driven by interest earnings that rose to Rs 1313.74 crore from Rs 1049.87 crore. During the period the bank realised other income of Rs 132.98 crore (Rs 126.27 crore). During the period the bank's expenditure rose to Rs 1140.04 crore from Rs 877.33 crore. The increased expenditure was driven by higher interest costs that rose to Rs 892.4 crore from Rs 654.86 crore. OBC's wage costs rose to Rs 130.35 crore from Rs 111.86 crore.

Related Stories:
OBC net up 12 pc to Rs 143.42 cr

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

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