OBC EXPECTS NET PROFIT CROSS RS.1000 CR. BY MARCH'10

Oriental Bank of Commerce (OBC) expects net profit to cross the landmark level of Rs 1,000 crore by the end of the current fiscal.


The bank has already posted a net profit of Rs 817 crore in the first three quarters of 2009-10. During the last quarter September-December 2009, the bank reported a 14.76 per cent growth in net profit at Rs 289.43 crore.


Net Interest Margin (NIM), the fiscal should close with NIM of 2.25 per cent against 2.20 per cent last fiscal. The NIM of the bank improved to 3 per cent at the end of the third quarter compared to 2.02 per cent in the same quarter previous fiscal.


Source: http://www.thehindubusinessline.com/businessline/blnus/17191820.htm