ORIENTAL BANK OF COMMERCE DECLARE QUARTERLY RESULTS
HIGHLIGHTS OF OBC FINANCIAL RESULTS FOR QUARTER ENDED 30TH JUNE, 2016
(` in Crore)
| June,2016 | June,2015 | % Growth (YoY) | |
| Business Mix | 3,54,809 | 3,42,507 | 3.59% |
| Total Deposits | 2,04,508 | 1,95,958 | 4.36% |
| Total Advances | 1,50,301 | 1,46,549 | 2.56% |
| Retail Term Deposits (less than `1 Crore) | 87,706 | 78,410 | 11.86% |
| Retail Advances | 18,328 | 16,575 | 10.58% |
| Housing Loan | 12,512 | 10,683 | 17.12% |
Capital Adequacy of the Bank under BASEL III: 12.40% (Tier I: 9.16%, Tier II: 3.24%).
Average CASA Deposit increased by 13.34% (YoY).
CASA Deposit as percentage to Total Deposit increased to 25.91% from 24.21% as on 30th June, 2015.
Cost of Deposits reduced to 6.71% compared to 7.50% as on 30th June, 2015.
Non Interest Income increased by 35.21% (YoY) to `613.77 Crore from `453.93 Croreduring Q1 of FY-2015-16.
Operating Profit for the quarter sequentially increased to `917.09 Crore compared to`878.73 Crore during Q4 of FY-2015-16.
Net Profit for the quarter sequentially increased to `100.69 Crore compared to `21.62 Croreduring Q4 of FY-2015-16.
Net Interest Margin (NIM) for the quarter stood at 2.36%.
Gross NPA stood at 11.45% & Net NPA at 8.11%
Cash Recovery including upgradation during the quarter was `691.69 Crore compared to `546.07 Crore during Q1 of FY-2015-16 and `478.61 Crore during Q4 of FY-2015-16.
Provision Coverage Ratio stood at 49.33%.
Retail Advances as percentage to Total Advances increased to 12.19% from 11.31% as on 30th June, 2015.
The quarterly average Liquidity Coverage Ratio (LCR) of the Bank for the quarter was95.47% as against 88.82% for Q4 of FY-2015-16. The quarterly average LCR for Q1 (2016-17) is above the regulatory requirement of 70%.
The Leverage Ratio of the Bank as on 30.06.2016 was 6.02% vis-à-vis 5.86% as on 31.03.2016 against the minimum requirement of 4.50% as per draft guidelines of RBI.
Total Delivery Channels of the Bank (as on 30.06.2016) stood at 4936 (2351 Branches and 2585 ATMs).
v NEW INITIATIVES
Bank has launched Oriental Merchant Current Account – a special Current Account with POS facility to target Merchants like Shopping Centres, Petrol Pumps, Hospitals, Educational Institutes, Mobile Shops & other Commercial establishments etc.
The following new services/facilities were launched by the Bank during the quarter:
Launch of Online Share Trading Platform in tie-up with ‘Kotak Securities Ltd’ in addition to the existing tie-up with ‘Geojit BNP Paribas Financial Services Ltd’, ‘IDBI Capital’ & ‘Karvy Stock Broking Ltd’.
Facility for Registration for Mobile Banking Services through Internet Banking.
Photo Caption: Shri Animesh Chauhan, MD & CEO, Oriental Bank of Commerce (second from left) announcing the Q1 Financial Results of FY 2016-17 along with EDs Shri Rajkiran Rai G. & Shri Himanshu Joshi at Bank’s Corporate Office in Gurgaon. Also seen in the picture (on the right) is Shri CH. S. S. Mallikarjuna Rao, CFO of the Bank.