Oriental Bank of Commerce Q4 net down 21% at Rs 265 cr

Delhi-based state-owned Oriental Bank of Commerce (OBC) reported a 21% decline in net profit to Rs 265 crore for the fourth quarter ended March 31. The bank had posted net profit of Rs 334 crore for the same quarter of the previous fiscal.

However, total income of the bank increased to Rs 4,564.53 crore during the quarter from Rs 3,532.13 crore in the same period a year ago, OBC said in a filing to the BSE.

Oriental Bank of Commerce witnessed this decline mainly due to higher provisioning for bad debt and restructured advances.

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