Oriental Bank of Commerce’s board has approved the capital raising programme of the Bank for an amount not exceeding Rs 1500 crore through various modes as the Board / Committee of Directors may in its absolute discretion think fit at the opportune time pursuant to applicable laws and regulatory approvals. The company’s board gave the approval for the same at its meeting held on July 18, 2014.
For the year ended March 31, 2014, the bank has posted fall of 14.19% in its net profit after tax at Rs 1139.41 crore as compared to Rs 1327.95 crore for the same period in the previous year. However, total income of bank has increased by 8.28% at Rs 20962.75 crore for year under review as compared to Rs 19359.49 crore for the period ended March 31, 2013.
