Q4FY17 Results: Oriental Bank of Commerce

Oriental Bank of Commerce reported its Q4FY17 results today. The quarterly numbers were largely subdued due to slower advances growth and worsened asset quality.

The bank's NII for the quarter increased by 20% qoq in Q4FY17 to Rs 1307 crore as against Rs.1082 crore in Q4FY16. This was due to decline in interest expended by 4.8% qoq.

Higher provisioning for bad loans by 141% qoq led to increase in net loss to Rs 1218 crore in Q4FY17 versus net loss of Rs.130 crore in Q3FY17.

The bank's GNPAs for the quarter increased by 73 per cent qoq. In percentage terms GNPAs improved marginally to 13.73 per cent in Q4FY17 as compared to 13.80 per cent in Q3FY17. Its NNPAs improved by 72 bps to 8.96 per cent.

The stock opened at Rs 175 and fell 6.18  per cent before closing at Rs 163.40.

Oriental Bank of Commerce is a scheduled commercial bank. The bank's segments include treasury operations, corporate/wholesale banking, retail banking and other banking business operations. The treasury operations segment consists of dealing in securities and money market operations.