Oriental Bank of Commerce has reported results for its first quarter ended June 30, 2011.
The bank’s net profit for the quarter has declined by 2.37% at Rs 354.70 crore as compared to Rs 363.31 crore for the same quarter last year. Its total income has increased by 28.72% to Rs 3920.36 crore for the quarter under review from Rs 3045.54 crore for the corresponding quarter of the previous year.
Recently, the bank had revised the interest rates payable on domestic term deposit for amount of less than 15 lakhs and for term deposits of Rs 15 lakhs and above but less than Rs 1 crore.
