Sunday, August 14, 2016

OBC : HIGHLIGHTS OF FINANCIAL RESULTS FOR QUARTER ENDED 30TH JUNE, 2016

Standard
Oriental Bank of Commerce 
                                                                                            
                                              (` in Crore)

June,2016
June,2015
% Growth (YoY)
Business Mix
3,54,809
3,42,507
3.59%
Total Deposits
2,04,508
1,95,958
4.36%
Total Advances
1,50,301
1,46,549
2.56%
Retail Term Deposits
(less than `1 Crore)
87,706
78,410
11.86%
Retail Advances
18,328
16,575
10.58%
Housing Loan
12,512
10,683
17.12%

v  Capital Adequacy of the Bank under BASEL III: 12.40% (Tier I: 9.16%, Tier II: 3.24%).

v  Average CASA Deposit increased by 13.34% (YoY).

v  CASA Deposit as percentage to Total Deposit increased to 25.91% from 24.21% as on    30th June, 2015.

v  Cost of Deposits reduced to 6.71% compared to 7.50% as on 30th June, 2015.

v  Non Interest Income increased by 35.21% (YoY) to `613.77 Crore from `453.93 Croreduring Q1 of FY-2015-16.

v  Operating Profit for the quarter sequentially increased to `917.09 Crore compared to`878.73 Crore during Q4 of FY-2015-16.

v  Net Profit for the quarter sequentially increased to `100.69 Crore compared to `21.62 Croreduring Q4 of FY-2015-16.

v  Net Interest Margin (NIM) for the quarter stood at 2.36%.

v  Gross NPA stood at 11.45% & Net NPA at 8.11%

v  Cash Recovery including upgradation during the quarter was `691.69 Crore compared to                 `546.07 Crore during Q1 of FY-2015-16 and `478.61 Crore during Q4 of FY-2015-16.

v  Provision Coverage Ratio stood at 49.33%.

v  Retail Advances as percentage to Total Advances increased to 12.19% from 11.31% as on 30th June, 2015.

v  The quarterly average Liquidity Coverage Ratio (LCR) of the Bank for the quarter was95.47% as against88.82% for Q4 of FY-2015-16. The quarterly average LCR for Q1                 (2016-17) is above the regulatory requirement of 70%.

v  The Leverage Ratio of the Bank as on 30.06.2016 was 6.02% vis-à-vis 5.86% as on 31.03.2016 against the minimum requirement of 4.50% as per draft guidelines of RBI.

v  Total Delivery Channels of the Bank (as on 30.06.2016) stood at 4936 (2351 Branches and 2585 ATMs).


v  NEW INITIATIVES

Ø  Bank has launched Oriental Merchant Current Account – a special Current Account with POS facility to target Merchants like Shopping Centres, Petrol Pumps, Hospitals, Educational Institutes, Mobile Shops & other Commercial establishments etc.

Ø  The following new services/facilities  were launched by the Bank during the quarter:
o   Launch of Online Share Trading Platform in tie-up with ‘Kotak Securities Ltd’ in addition to the existing tie-up with ‘Geojit BNP Paribas Financial Services Ltd’, ‘IDBI Capital’ & ‘Karvy Stock Broking Ltd’.
o   Facility for Registration for Mobile Banking Services through Internet Banking.

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