Oriental Bank of Commerce (OBC), a public sector lender is eyeing to raise Rs 1,000 crore through an issue of Tier-II bonds on private placement basis. The bank intends to raise Tier-II capital through private placement of Basel III compliant Tier 2 Bonds of Rs 10 lakh each at par aggregating to Rs 1,000 crore. The bonds have been rated ‘AA+’ and ‘AA+’ by ratings agencies CARE and ICRA, respectively.
The bank has reported 29.27% fall in its net profit at Rs 257.84 crore for first quarter ended June 30, 2015 as compared to Rs 364.54 crore for the same quarter in the previous year. Total income of the bank has decreased by 0.13% at Rs 5568.78 crore for quarter under review as compared to Rs 5576.02 crore for the quarter ended June 30, 2014.
The bank’s gross NPA for the April-June quarter of the current fiscal increased to 5.85% as compared to 4.33% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 3.76% in Q1FY16.
