Oriental Bank of Commerce (OBC) on Wednesday reported a rise of 15.94% in its net profit for the quarter ended Sept. 30, 2014. The bank earned a profit of Rs 2.91 billion for the quarter ended Sept. 30, 2014.
The bank's quarterly income totaled at Rs 53.29 billion, an increase of 6.84% over Rs 49.88 billion in the same period a year ago.
Analysts, on average, expected Oriental Bank of Commerce to report a profit of Rs 2.85 billion
Net NPA was at Rs 45.20 billion for the quarter ended Sept. 30, 2014, as compared to Rs 34.22 billion in the same period last year, representing an increase of 32.09%.
In percentage term, net NPAs were at 3.29% at the end of the quarter, Sept. 30, 2014, higher by 2.69% from last year period.
Capital adequacy ratio (CAR) under Basel III of the bank was at 10.88% as on Sept. 30, 2014.
Shares of the bank declined Rs 13.25, or 4.75%, to trade at Rs 265.60. The total volume of shares traded was 708,193 at the BSE (1.54 p.m., Wednesday).