Monday, August 4, 2014

Oriental Bank of Commerce Q1 Financial Results of FY 2014-15

4082014
Mr S. L. Bansal CMD, Oriental Bank of Commerce accompanied by EDs Mr Bhupinder Nayyar & Mr Suresh N Patel announced  the Q1 Financial Results of FY 2014-15 at Bank’s Corporate Office in Gurgaon. Also present were Mr C. M. Khurana, CFO of the Bank.
                                                                                                    
HIGHLIGHTS OF FINANCIAL RESULTS FOR 30TH JUNE, 2014
                                                                                   (Rs. In Crore)
Q1
FY-2014-15
Q1
FY-2013-14
% Growth (YoY)
Operating Profit
1141.72
1,088.27
4.91%
Net Profit
364.54
353.38
3.16%
Total Income
5,576.03
5,255.70
6.09%
Non Interest Income
588.20
538.05
9.32%
                                                                                                                   (Rs. in Crore)
June,2014
June,2013
% Growth (YoY)
Business Mix
3,24,861
3,04,269
6.77%
Total Deposits
1,86,547
1,76,275
5.83%
Total Advances
1,38,314
1,27,995
8.06%
Core Deposits
1,59,317
1,44,873
9.97%
Retail Term Deposits
(less than Rs.1 Cr)
67,593
61,569
9.78%
Bulk Deposits
26,848
31,221
-14.01%
CASA Deposits
44,903
41,844
7.31%
CASA per Branch
21.09
20.68
1.98%
Retail Advances
16,076
14,492
10.93%
Priority Sector Advances
53,753
45,584
17.92%
Business per Employee
16.32
15.98
2.13%
Book Value per Share (in Rs.)
434.08
413.87
4.88%
Cost to Income Ratio
37.64%
41.02%
-338 bps
o   Capital Adequacy of the Bank under BASEL II 11.75% (Tier I: 9.23%, Tier II: 2.52%)
o   Capital Adequacy of the Bank under BASEL III 10.91% (Tier I: 8.85%, Tier II: 2.06%)
o   RETAIL CREDIT
Retail Credit grew by 10.93% (YoY) to reach Rs. 16,075.50 crore out of which:
Ø  Housing Loan Portfolio grew by 13.81% (YoY) to reach Rs.7,383.70 crore
Ø  Vehicle Loan Portfolio grew by 11.94% (YoY) to reach Rs. 1,634.47 crore
o   PRIORITY SECTOR
                                                                                                                            (Rs. in Crore)
June,2014
June,2013
% Growth (YoY)
Total Priority Sector Advances
53,753
45,584
17.92%
Total Agriculture Advances
20,957
17,149
22.20%
Micro & Small Enterprises
24,718
20,811
18.78%
Weaker Section
13,528
11,349
19.20%
Minority Community
8,217
7,370
11.49%
Under, Financial Inclusion, 3268 Villages have been covered by the Bank up to               30thJune, 2014.
o   Total Recovery including Upgradation during the quarter was Rs.878 crorecompared to Rs.480 crore in corresponding quarter of previous financial year.
o   Gross NPA ratio at 4.33% and Net NPA ratio at 3.11%.
o   Provision Coverage Ratio stood at 59.11%.
o   218 New ATMs installed during the quarter.
o   The Total Delivery Channels of the Bank as on 30th June, 2014, stood at4543 (2129 Branches and 2414 ATMs).
o   The Customer Base of the Bank stands increased to 22.52 million.
o   During the quarter, Bank recruited 545 personnel including 412 Probationary Officers & 106 Specialist Officers. Further, 563 Clerks shall be joining the Bank in Oct, 2014.
OTHER INITIATIVES DURING Q1
Ø  Monsoon Bonanza offer on Home & Car Loans has been launched with 50% waiver in process fee.
Ø  Customised Education Loan scheme for students of all IITs & IIMs wherein 100% financing is permissible at Base Rate with Nil Collateral Security.
Ø  In-built sanction of four wheeler loan will be given at the time of renewal of credit facilities to existing corporate customers of the Bank who are availing regular credit facilities from the Bank.
Ø  Under Oriental Mortgage Loan Scheme, the loan limit has been enhanced from         Rs. 1.00 Crore to Rs.10.00 Crore.
Ø  Internet Banking
o   Rajasthan and Andhra Pradesh (Seemandhra) Government online Tax Collection launched.
o   Launched the facility of instance issuance of One Time Password (OTP) for better customer convenience.
Ø  Self Service Cash Deposit Kiosks:132 Self Service Cash deposit Kiosks have been procured for installation at different branches across the country to provide instant credit in their accounts for the cash deposited in the Kiosk. Out of these, 61 have already been implemented and 71 are in process of implementation.
Ø  Self Service Passbook Printing Kiosks88 Self service Pass Book Printing Kiosks have been procured for installation at different branches across the country. Out of which 66 have already been implemented and 22 are in process of implementation.
CSR INITIATIVES DURING Q1
Ø  Activity in Primary Schools
v  Donated a School Bus for poor & needy students of the school under Saraswati Shishu Mandir Shiksha Samiti, Meerut.
v  Donated Water Coolers for providing fresh & cool drinking water to the  students/ teachers of MLM Public School, Ferozpur Cantt, Krishna Vatika School Village Bhokhra, District Bathinda & Government High School, Topra Kalan.
Ø  Women Empowerment & Entrepreneur Development Program
Donation of Computers along with UPS System, Sewing Machines, Solar batteries & Cycles, through Jagruti- A Social Venture by Oriental Bank Family in association with Navjyoti India Foundation at its Project Site Office at Dhumaspur Road, Nayagaon (Bhondsi), Guragon.
Ø  Medical Equipments & other utility items
Donation of medical equipments, food items, medicines and other utility items for rehabilitation of persons of ‘The Earth Saviours Foundation, New Delhi’, who have been displaced due to fire.
Ø  Green Initiatives to mitigate pollution
Under the Green Initiatives & to mitigate the pollution, Bank has planted more than 100 saplings in Kolkata in association with Concern India Foundation, Kolkata.
Ø  Water Coolers & RO Systems
      The Bank donated Water Cooler & RO system for visitors and staff of BDPO Office,
      Radaur, District Yamuna Nagar.
AWARDS
Shri Pranab Mukherjee, Hon’ble President of India conferred the Bank with the Excellence Award for issuance of RuPay Card.
Place  : Gurgaon
Date   : 04.08.2014
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