Oriental Bank of Commerce 's (OBC), lender in the public sector's net profit for the second quarter (July-September) dropped to Rs.251 crore or 17 percent year on year. It was affected by higher procurements while aasset quality disintegrated further Net premium pay expanded 10.7 percent on yearly support to Rs.1,281 crore in three-month period finished September 2013.
Provisions and possibilities climbed 3.3 percent successively (up 19.7 percent year-on-year) to Rs.550.5 crore in the quarter passed by. Capital sufficiency proportion according to Basel III stretched to 11.43 percent from 10.97 percent consecutively.
In the mean time, the top managerial staff of the organization today endorsed the proposal in regards to raising of capital by method for particular assignment of value experience in favour of Government of India ending up as Rs.150 crore. At 12:56 hours IST, the stock was down 2.25 percent to Rs.156.20 on the BSE.