Oriental Bank of Commerce Q1FY13 Result - First Cut - Microsec Research

Oriental Bank of Commerce Ltd has announced its Q1FY13 result on 30th July 2012. Bank's total income increased by 8.67% QoQ and 14.32% YoY to INR1534.25 crores. Whereas, Profit After Tax (PAT) increased by 47.76% QoQ and 10.35% YoY to INR391.42 crores. During the quarter, Net Interest Income (NII) and Other Income of the bank grew by 10.56% and 26.11% YoY to INR1125.84 and INR408.41 crores respectively. Bank has also reduced the provision amount by 37.85% QoQ to INR332.12 crores, which has boosted the profitability of bank.

On the assets quality front, bank has improved its assets quality, NNPA and GNPA stood at 2.05% and 2.97%, decreased by 16 and 20bps QoQ respectively. Moreover, Capital Adequacy Ratio (CAR) stood at 12.29%, which is 3.29% higher than regulator's stipulated norm. Bank has also improved its CASA ratio by 67bps YoY to 24.02%. On the margin front, Net Interest Margin improved by 11bps QoQ to 2.79%.

Source : Equity Bulls

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