OBC to strengthen presence in Karnataka

Our Banking Bureau
28 March 2002

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 banks representatives, registered a 53-per cent increase in profit for the nine-month period ended December 2001. OBCs 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.