Oriental Bank of Commerce has decided to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of Rs 1000,000 each at par aggregating to Rs 500 crore. The proposed Bonds Issue has been rated as 'A+' by CARE Ratings and 'A+ (Hyb) with Negative Outlook' by ICRA.
Oriental Bank of Commerce has reported 60.95% fall in its net profit at Rs 100.69 crore for the quarter ended June 30, 2016 as compared to Rs 257.84 crore for the same quarter in the previous year. Total income of the bank decreased by 3.16% to Rs 5392.70 crore for the quarter under review from Rs 5568.78 crore for the corresponding quarter of the previous year.
