Oriental Bank of Commerce (OBC), a nationalized public sector bank, is eyeing sale of NPAs worth Rs 1,000 crore by June 30. The bank’s ratio of gross non-performing assets (NPAs) to gross advances rose to 3.21% as on March 31, 2013 from 2.98% as on December 31, 2012 and 3.17% as on March 31, 2012.
OBC's net profit rose 16.24% to Rs 307.94 crore on 9.45% growth in total income to Rs 4996.01 crore in Q4 March 2013 over Q4 March 2012. Its capital adequacy ratio (CAR) as per Basel II norms declined to 12.04% as on March 31, 2013 from 12.25% as on December 31, 2012 and 12.69% as on March 31, 2012.
Oriental Bank of Commerce is a Government of India undertaking whose business activities includes monetary intermediation of commercial banks, saving banks and discount houses.
