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OBC to
strengthen presence in Karnataka
Our Banking Bureau
28 March 2002
Mangalore: Oriental Bank of Commerce (OBC), which
has a network of over 960 branches and extension counters in
India, plans to strengthen its presence in the state of Karnataka.
 OBC
has opened a fully computerised branch in Mangalore on 28 March
2002. The bank is ostensibly observing 2001-02 as a year for ‘augmenting
profitability and productivity.’
OBC, according to the bank’s representatives, regi stered
a 53-per cent increase in profit for the nine-month period ended
December 2001. OBC’s total income for the third quarter grew to
Rs 890 crore (Rs 747 crore). The total income for the nine-month
period stood at Rs 2,517 crore (Rs 2,237 crore).
The aggregate deposits for the same period registered a 12.7
per cent increase to Rs 22,746 crore, while gross advances
increased to Rs 13,122 crore, registering a growth of 16.6 per
cent.
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