OBC posts ?201 crore profit for Jan-Mar quarter

NEW DELHI: Public sector lender Oriental Bank of Commerce (OBC) on Monday posted a net profit of ?201.50 crore for the quarter ended March 2019 against a loss of ?1,650.22 crore during the corresponding quarter of the last fiscal.

Total income of the bank during the January-March quarter rose to ?5,711.92 crore from ?4,689.12 crore in the same quarter a year ago, OBC said in a regulatory filing.

Asset quality of the bank improved with gross non-performing assets (NPAs) or bad loans coming down to 12.66% of the net advances as on 31 March, 2019, against 17.63% reported a year ago.

Net NPAs as a percentage of gross advances at the end of March 2019 stood at 5.93%, down from 10.48% a year ago.

This story has been published from a wire agency feed without modifications to the text.

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