MUMBAI, Aug 6: Oriental Bank of Commerce (OBC) has recorded a 40 per cent rise in its net profit during the first quarter of the current financial year. The bank has posted a net profit of Rs 65.97 crore compared with Rs 47.23 crore during the corresponding period last year.The bank's total income during the first quarter grew by 31 per cent to touch Rs 463.70 crore against Rs 354.92 crore during the corresponding period of the previous year. Interest income during the period stood at Rs 431.72 crore against Rs 327.83 crore during the quarter ended June 30, 1997, indicating a rise of 32 per cent. OBC's other income was up by 18 per cent at Rs 31.98 crore against Rs 27.09 crore in the year-ago period.
Total expenditure at Rs 397.73 crore was higher by 29 per cent over the previous year's figure of Rs 307.69 crore. Interest expended accounted for Rs 282.71 crore against Rs 213.36 crore in the quarter ended June 30, 1997, a rise of 33 per cent.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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