State-owned lender Oriental Bank of Commerce's net profit rose by 10% year-on-year to Rs 391 crore in the quarter ended June 2012. Net interest income too grew by more than 10% to Rs 1,126 crore from Rs 1,018 crore during the same period.
The bank made less provisions in the quarter around Rs 334 crore as compared to Rs 534 crore in the previous quarter.
Gross non-performing assets (NPAs) declined by 20 basis points quarter-on-quarter to 2.97% and net NPAs too fell by 16 basis points to 2.05% versus 2.21% during the same period.
But, capital adequacy ratio slipped by 40 basis points to 12.29% in the first quarter of FY13 as against 12.69% in the previous quarter.
At 12:21 pm today, OBC's stock was trading at Rs 228.90, up 7.41% amid heavy volumes.
