Oriental Bank of Commerce (OBC) has paid Rs 155.68 crore to the Government of India (GoI) towards dividend for financial year 2012-13. The public sector lender had declared a dividend of 92% i.e. Rs 9.2 per share of Rs 10 each. The dividend RTGS amount for Rs 155.68 crore was presented to the Union Finance Minister by the bank at North Block on July 23, 2013.
Oriental Bank of Commerce is a government of India undertaking whose business activities includes monetary intermediation of commercial banks, saving banks and discount houses. The bank’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.
