Oriental Bank of Commerces net loss narrowed to Rs 130 crore in Q3

Oriental Bank of Commerce reported net loss of Rs 130.01 crore in its third quarter ended December 31, 2016, which has narrowed compared to net loss of Rs 424.69 crore in the similar period of the previous year. 

The bank reported net profit of Rs 153.27 crore in the preceding quarter (Q2FY17). 

Net Interest Income stood at Rs 1082.01 crore, declining by 17.36% year-on-year (YoY) and 17.75% quarter-on-quarter (QoQ). 

Total income from operations was at Rs 5415.97 crore, witnessing growth of 1.22% yoy and 2.60% qoq.

In this Q3, provisions for non-performing assets (NPAs) was at Rs 1429.62 crore, which was down by 1.43% yoy but up by 107.95 qoq. 

Gross NPAs in this period stood at 13.80%, expanding by 605 basis points yoy and 144 basis points qoq.

On segment wise revenue break-up, treasury operations contributed 49.30% growth at Rs 2015.38 crore in Q3, against Rs 1349.84 crore a year ago same period. 

However, income from wholesale/corporate banking stood at Rs 2921.82 crore, down by 8.49% and retail banking at Rs 1422.73 crore declining 21.77 yoy. 

On Friday, shares of Oriental Bank of commerce finished at Rs 130.70 per piece on BSE, up by 5.49%.