OBC Q2 net dips 24% to Rs 236.24 cr

New Delhi, Oct 29 (UNI) Oriental Bank of Commerce (OBC) today registered a 24 per cent drop in its net profit at Rs 236.24 crore during the second quarter this fiscal in comparison to Rs 310.75 crore in the same period last year.

However, total income of the bank rose 28.10 per cent to Rs 1,788.21 crore for the second quarter as compared to Rs 1,395.86 crore in the year-ago period, bank officials told reporters here.

The capital adequacy ratio of the bank was higher to 13.59 per cent in the second quarter ended September 30, 2007.

For the half year ended September 2007, the net profit declined 6.29 per cent to Rs 436.66 crore as against Rs 466.01 crore in the corresponding period.

However, the total income during the first half of the current fiscal shot up 31.93 per cent to Rs 3,468.55 crore as compared to Rs 2,628.90 crore in the same period last year. Total business of the bank stood at Rs 1,16,042 crore as on September 30.

UNI