The perfect report card

Here are the highlights of financial results of Oriental Bank of Commerce for June 30th.

• Capital adequacy of the bank under BASEl II 11.75 per cent (Tier I: 9.23 per cent, Tier II: 2.52 per cent).
• Capital adequacy of the bank under BASEl III 10.91 per cent (Tier I: 8.85 per cent, Tier II: 2.06 per cent).
• Retail credit grew by 10.93 per cent (YoY) to reach Rs 16,075.50 crore out of which:
• Housing loan portfolio grew by 13.81 per cent (YoY) to reach Rs 7,383.70 crore.
• Vehicle loan portfolio grew by 11.94 per cent (YoY) to reach Rs 1,634.47 crore.
• Under, financial inclusion, 3,268 villages have been covered by the bank up to June 3-0, 2014.
• Total recovery including upgradation during the quarter was Rs 878 crore compared to Rs 480 crore in corresponding quarter of previous financial year.
• Gross NPA ratio at 4.33 per cent and net NPA ratio at 3.11 per cent.
• Provision coverage ratio stood at 59.11 per cent.
• 218 new ATMs installed during the quarter.
• The total delivery channels of the Bank as on June 30 stood at 4,543 (2,129 branches and 2,414 ATMs).
• The customer base of the bank stands increased to 22.52 million.
• During the quarter, bank recruited 545 personnel including 412 probationary officers and 106 specialist officers. Further, 563 clerks will be joining the bank in October.

Other initiatives

• Monsoon bonanza offer on home and car loans has been launched with 50 per cent waiver in process fee.
• Customised education loan scheme for students of all IITs and IIMs wherein 100 per cent financing is permissible at base rate with nil collateral security.
• In-built sanction of four wheeler loan will be given at the time of renewal of credit facilities to existing corporate customers who are availing regular credit facilities.
• Under Oriental Mortgage loan scheme, the loan limit has been enhanced from Rs 1 crore to Rs 10 crore.
• Rajasthan and Andhra Pradesh (Seemandhra) government online tax collection launched.
• launched the facility of instance issuance of One Time Password (OTP) for better customer convenience.

Self Service Cash Deposit Kiosks: One hundred thirty two self service cash deposit Kiosks have been procured for installation at different branches across the country to provide instant credit in their accounts for the cash deposited in the Kiosk. Out of these, 61 have already been implemented and 71 are in process of implementation.

Self Service Passbook Printing Kiosks: Eighty eight self service Pass book printing kiosks have been procured for installation at different branches across the country. Out of which 66 have already been implemented and 22 are in process of implementation.

CSR initiatives during Q1

• Activity in primary schools.
• Donated a school bus for needy students of the school under Saraswati Shishu Mandir Shiksha Samiti, Meerut.
• Donated water coolers for providing fresh and cool drinking water to the  students/ teachers of MlM Public School, Ferozpur Cantt, Krishna Vatika School Village Bhokhra, district Bathinda and Government High School, Topra Kalan.

Women Empowerment & Entrepreneur Development Programme

• Donation of computers along with UPS system, sewing machines, solar batteries and cycles, through Jagruti — a social venture by Oriental Bank Family in association with Navjyoti India Foundation at its Project Site Office at Dhumaspur Road, Nayagaon (Bhondsi), Gurgaon.
• Medical equipment and other utility items. Donation of medical equipment, food items, medicines and other utility items for rehabilitation of persons of The Earth Saviours Foundation.
• Green initiatives to mitigate pollution: Under this, the bank has planted more than 100 saplings in Kolkata in association with Concern India Foundation, Kolkata.
• Water coolers and RO systems: The bank donated water cooler and RO system for visitors and staff of BDPO office, Radaur, district Yamuna Nagar.