OBC Net Jumps 26% In H1

New Delhi, October 27: | Updated: Oct 28 2002, 05:30am hrs
Focusing on recovery of bad loans and keeping down its deposit growth to 1 per cent, Oriental Bank of Commerce has clocked a 37 per cent increase in its gross profit during the first six months of the current fiscal.

According to reliable sources, net profit during the first half has risen to nearly Rs 215 crore, an increase of about 26 per cent. The gross profit during the period has stood at over Rs 490 crore.

The banks exposure to housing credit rose to over Rs 1,450 crore.

The other income of the bank rose by 32 per cent to nearly Rs 214 crore, while interest income has increased by 12.5 per cent. Deposits during the period grew to over Rs 29,150 crore while net advances crossed the Rs 14,000-crore mark.