ORIENTAL BANK OF COMMERCE DECLARES ITS ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 2014-15
HIGHLIGHTS OF FINANCIAL RESULTS FOR QUARTER ENDED 31ST MARCH, 2015
(Rs. in Crore)
| March,2015 | March,2014 | % Growth (YoY) | |
| Business Mix | 3,52,049 | 3,34,254 | 5.32% |
| Total Deposits | 2,04,010 | 1,93,489 | 5.44% |
| Total Advances | 1,48,039 | 1,40,765 | 5.17% |
| Core Deposits | 1,71,455 | 1,57,892 | 8.59% |
| Retail Term Deposits
(less than Rs.1 Cr) |
75,539 | 65,910 | 14.61% |
| Retail Advances | 18,123 | 16,128 | 12.37% |
| Book Value per Share (in Rs.) | 438.80 | 420.49 | 4.35% |
v RECOVERY & NPA
Ø Gross NPA sequentially down from 5.43% to 5.18% (Q3 vs Q4)
Ø Net NPA sequentially down from 3.68% to 3.34% (Q3 vs Q4)
Ø Provision Coverage Ratio sequentially improved from 57.39% to 60.59% (Q3 vs Q4)
Ø Total Cash Recovery and Upgradation during FY 2014-15 was Rs.2,109 crore compared to Rs.2,079 crore in previous financial year.
Ø Fresh Slippages have sequentially decreased from Rs.1,342 Crore in Q3 to Rs.762 Crore in Q4.
v INCOME & PROFIT
Ø Non- Interest Income sequentially increased by 22.75% to Rs.629 crore (Q4) compared to Rs.512 Crore (Q3).
Ø Operating Profit sequentially increased by 19.79% to Rs.1,216 crore (Q4) compared to Rs.1,015 Crore(Q3).
Ø Total Income sequentially increased by 4.77% to Rs.5,719 Crore (Q4) compared to Rs.5,459 Crore (Q3).
Ø Net Profit for FY 2014-15 is Rs.497 Crore and Net Loss for Q4 is Rs.178.44 Crore, impacted by exceptional debit of Rs.280.43 Crore being reversal of asset sale profit during FY 13-14.
Ø Wage revision provision during Q4 is Rs.202 Crore which includes Rs.148 Crore for previous period.
v Business Per Employee increased to Rs. 17.43 Crore (March, 2015) from Rs.17.10 Crore(March,2014).
v Net Interest Margin (NIM) stood at 2.61% (FY-2014-15).
v Capital Adequacy of the Bank under BASEL III: 11.41% (Tier I: 8.73%, Tier II: 2.68%) increased from11.01% as on March, 2014.
v Capital Raising :
Ø The Bank raised capital of Rs.1,000 crore by way of issue of BASEL-III Compliant Tier-2 Bonds in Oct-2014 and Rs. 500 crore through Additional Tier-I BASEL-III Compliant Perpetual Bonds in Feb-2015.
Ø The Bank has approval from Govt. of India for raising Equity Capital of Rs.1,000 Crore through QIP route and for raising Tier-I Capital of Rs.500 Crore by issuing additional Tier-I Basel-III compliant Perpetual Bonds.
Page 1 of 2
v PRIORITY SECTOR ADVANCES
(Rs. in Crore)
| March,2015 | March,2014 | % Growth (YoY) | |
| Total Priority Sector Advances | 57,113 | 54,268 | 5.24% |
| Total Agriculture Advances | 22,541 | 21,177 | 6.45% |
| Micro & Small Enterprises | 28,970 | 25,525 | 13.49% |
| Weaker Section | 14,900 | 13,883 | 7.32% |
v PROGRESS UNDER PRADHAN MANTRI JAN-DHAN YOJANA (PMJDY)
The Bank is implementing the Pradhan Mantri Jan-Dhan Yojana (PMJDY) in a mission mode. The progress under the scheme is as under:
Ø No. of Accounts Opened : 24.96 Lac
Ø No. of RuPay Cards Issued : 24.60 Lac
Ø Amount of Deposit in above Accounts: Rs.1,359 crore
Ø % of Accounts with Balances : 75.04%
v PROGRESS UNDER PRADHAN MANTRI SURAKSHA BIMA YOJANA (PMSBY) & PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA (PMJJBY)
The progress made by the Bank under the two social security schemes launched by Hon’ble Prime Minister on 09.05.2015 is as under:
Ø Enrolments under PMSBY : 9.67 Lac
Ø Enrolments under PMJJBY : 2.85 Lac
Ø Total Enrolments : 12.52 Lac
v During FY 2014-15, 125 New Branches were opened & 360 New ATMs were installed. The Total Delivery Channels of the Bank as on 31st March, 2015, stood at 4739 (2251 Branches and 2488 ATMs).
v OTHER INITIATIVES DURING Q4
The following new IT products/initiatives have been launched:
Ø Platinum RuPay Debit Card
Ø Card to Card (C2C) Fund Transfer through ATMs
Ø Bilingual ATMs
Ø DTH recharge and Mobile Top-up through ATMs
Ø E-Commerce transactions through RuPay Debit Card using OTP & PIN
v CSR INITIATIVES
Ø Swachch Vidayalaya Campaign: The Bank has earmarked an amount of Rs. 2.00 crore for constructing toilets in various Govt. schools. The construction is being done on Pan India basis on Priority and as focused CSR activity, leading towards the dream of a “Clean and Safe” India. During the year we have completed the construction of more than 227 Toilets in 177 Government Schools across the Country
Ø The Bank has undertaken various CSR activities during FY 2014-15 like donation of e-Mobile Clinic Van for e-OPD, Veterinary Ambulances, School Buses for transportation facility of poor & needy students, water cooler & purifiers, medical beds and medicines to poor patients, computers, solar lamps etc. The Bank has also donated for construction & renovation of school buildings and plantation of saplings to mitigate pollution
Photo Caption:
Mr. Animesh Chauhan, MD & CEO (second from left) Oriental Bank of Commerce along with Mr. Bhupinder Nayyar & Mr. Suresh N Patel, EDs announcing the Annual Financial Results of FY 2014-15 at Bank’s Corporate Office in Gurgaon. Also seen in the picture is Mr. CH. S. S. Mallikarjuna Rao, CFO of the Bank.
