Provisions for NPAs almost doubled to Rs.1,086 crore for Gurugram-based totally Oriental bank ofcommerce, while provision for general property decreased to Rs.50 crore from Rs.159 crore. photograph: Mint
New Delhi: Gurugram-based totally Oriental financial institution of trade reported a net earnings of Rs.21 crore for the sector ended 31 March as towards a loss of Rs.178 crore a yr ago, even as horrific debt roseinside the region.
For the full 12 months, net profit of the financial institution fell 69% to Rs.156 crore from Rs.497 crore ayear ago.
Gross non-acting property (NPAs) of the bank rose to 9.fifty seven% from five.18% within the 12 months–in the past period. internet NPAs doubled to 6.7% from 3.3%. Provisions for NPAs nearly doubled to Rs.1,086 crore at the same time as provision for popular property decreased to Rs.50 crore from Rs.159 crore.
net interest earnings rose marginally by using 4.3% to Rs.1354 crore. different profits also shriveled21% to Rs.493 crore.
net hobby margin—a key degree of profitability—rose to two.sixty five% within the area from 2.fifty eight% in the year–in the past length.
