Financial Daily from THE HINDU group of publications
Saturday, Jul 30, 2005
Financial Daily from THE HINDU group of publications Saturday, Jul 30, 2005 |
|
|
|
|
|
|
|
Money & Banking
-
Financial Performance Corporate Results - Public Sector Banks Oriental Bank Q1 net down 42 pc Our Bureau
New Delhi , July 29 ORIENTAL Bank of Commerce (OBC) has registered a net profit of Rs 104.77 crore for the quarter ended June 30, 2005, a 41.96 per cent drop from the net of Rs 180.52 crore registered during the same period last year. Operating profit has declined 9.21 per cent during the period to Rs 284.98 crore from Rs 313.91 crore. The bank has said that the decline in profits has been mainly due to increase in operating expenses on account of amalgamation of the erstwhile Global Trust Bank and shifting of Government securities from AFS (available for sale) to HTM (held to maturity) category, resulting in booking of net depreciation of Rs 172.08 crore. However, the bank has said that the action on the g-sec portfolio shall insulate it against rising interest rates in future. The bank's total income for Q1 has increased 12.22 per cent to Rs 1,083.10 crore (Rs 965.11 crore).
During the first quarter, OBC has made recovery of Rs 214 crore, resulting in reduction of gross NPA from Rs 2,514 crore as on March 2005 to Rs 2,416 crore as on June 2005 (9.10 per cent to 8.80 per cent) and net NPA from Rs 327 crore as on March 2005 to Rs 270 crore as on June 2005 (1.3 per cent to 1.1 per cent). The bank has a capital adequacy of 14.18 per cent as on June 30, 2005, against 14.53 per cent as of June 2004. Earnings per share as on June 30, 2005 works out to Rs 4.67 (Rs 9.38). The book value is Rs 147.32 per share.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|