Oriental Bank of Commerce (OBC) on Monday reported a net profit of Rs 201.50 crore for the fourth quarter ended March 31, 2019. Thé public sector lender had reported a net loss of Rs 1,650 crore in the fourth quarter last fiscal.
For the entire fiscal 2018-19, OBC has reported a net profit of Rs 55 crore, a turnaround of sorts when compared to a net loss of Rs 5,872 crore in the previous fiscal.
The turnaround could largely be attributed to a 109 per cent increase in total recovery and upgradation at Rs 6,597 crore (Rs 3,161 crore) during fiscal 2018-19.
Net NPAs have decreased to 5.93 per cent (Rs 9,440 crore) as against net NPAs of 10.48 per cent at Rs 14,282 crore last year.