Money & Banking

Oriental Bank net up 39.4%

Our Bureau New Delhi | Updated on January 23, 2020

Oriental Bank of Commerce (OBC) on Thursday reported a 39.4 per cent increase in net profit for the third quarter ended December 31, 2019 at ₹202 crore (₹145 crore).

This public sector bank, which is expected to get amalgamated with PNB from April 1, had recorded net profit of ₹126 crore in the September quarter this fiscal. Total income for the quarter under review increased to ₹5,643 crore (₹5,128 crore), while operating profit increased by 21.06 per cent to ₹1,213 crore (₹1,002 crore).

For the nine month period ended December 31, 2019, OBC recorded a net profit of ₹440 crore as against a net loss of ₹147 crore in the same period previous year.

Published on January 23, 2020

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