Oriental Bank Q3 net loss narrows to Rs130 crore
New Delhi: Public lender Oriental Bank of Commerce’s net loss for the December quarter narrowed to Rs130 crore from Rs 424.70 crore in the year-ago period.
Total income has increased to Rs5,415.97 crore during the quarter ended 31 December 2016 from Rs5,350.48 crore in the same quarter a year ago, the bank said in a BSE filing.
The bank’s interest income also fell to Rs4,438.62 crore during October-December period as against Rs4,955.96 crore a year ago.
The asset quality of the bank deteriorated further, with gross non-performing assets (NPAs) rising to 13.80% of the gross advances during the quarter as against 7.75% a year earlier.
In absolute terms, the gross NPAs stood at Rs20,492.18 crore as against Rs11,824.90 crore year earlier. Net NPAs or bad loans soared to 9.68% of the net advances during the period from 4.99% during the October-December quarter last fiscal.
Further, in absolute terms, net NPAs during the quarter rose to Rs13,688.09 crore from Rs7,359.41 crore in the year-ago period.