I have great pleasure to welcome all of you to the Seventeenth Annual
 General Meeting of your Bank and present the Annual Report of your Bank
 for the period ended March 2011.
 
 Global Economic Scenario & Financial Markets
 
 The economic and financial conditions continue to face a variety of
 risks in different parts of the world combined with natural disasters,
 political turmoils etc making global recovery vulnerable and fragile.
 
 The recurring sovereign debt fears and other risks in crisis affected
 economies require financial redressal in larger measures as such crisis
 keeps surfacing often and again.
 
 The rising oil price has left large uncertainties and inflationary
 pressures on emerging and developing countries endangering their growth
 projections. Though, the International Monetary Fund (IMF) in its April
 2011 World Economic Outlook (WEO) has assumed US dollar 107 a barrel
 for the full year 2011.
 
 The Demand side on the commodities triggered with speculative movements
 in commodity derivatives coupled with bad weather and tow inventories
 remain a cause for volatile prices. According to the Food and
 Agriculture Organization (FAO), international food prices rose by 37
 per cent (y-o-y) in March 2011, led by the prices of cereals (60 per
 cent), edible oils (49 per cent) and sugar (41 percent).
 
 The US market continues to face deceleration in private consumption,
 increase in Import, decline in Government spending has lowered the GDP
 to 1.8% in the last quarter of 2010.
 
 Indian Economic Scenario
 
 The Indian economy has rebounded strongly with a GDP growth of8.6% in
 FY 2010-11 as against 8.0% for FY 2009-10, largely due to improved
 agriculture production, strong private consumption, higher exports,
 robust investment etc.
 
 The Industrial Production growth of 7.8% for the year 2010-11 was lower
 as against 10.5% growth recorded in the previous year.  However, the
 Industrial production regained strong momentum in
 thelastquarteroftheFY2010-11.
 
 The budgetary initiatives in 2011-12 indicate progress in the
 calibrated fiscal consolidation in 2010-11 as medium term measures for
 alleviating some pressures on aggregate demand by giving importance to
 removing structural constraints, promoting infrastructure investment
 and an inclusive growth.
 
 A sequenced withdrawal of monetary accommodation is helping to contain
 inflationary pressures and anchor inflationary expectations which
 remained at elevated levels for a large part of 2010-11, largely driven
 by fuel and food prices.
 
 The major RBI measures include decline in SLR requirement of the Banks
 from 25% to 24% and hike in the Repo Rate from 5.25% to 7.25% and
 Reverse Repo rate from 3.75% to 6.25%. (Eight times during FY 2010-11).
 
 Notwithstanding the risks, the Indian economy is poised to sustain the
 growth momentum.
 
 Outlook for FY 2011-12
 
 RBI in its recently announced Annual Monetary Policy, has projected
 real GDP growth rate at 8%, Money Supply Growth at 16%, Aggregate
 Deposits Growth at 17%, Non food credit growth at 19% and target of WPI
 inflation at 6.0% with upward bias for the FY 2011-12.
 
 In the Union Budget for FY 2011-12, GOI has earmarked a sum of Rs.6,000
 crore towards additional capital support to the Public Sector Banks to
 maintain a minimum Tier I Capital to Risk Assets Ratio (GRAR) at 8 per
 cent. This is an addition to the infusion of Rs. 20,157 crore in PSBs
 being done in FY 2010-11.
 
 While the south-west monsoon 2011 is expected to be normal, its impact
 on moderation in food inflation may be less than commensurate, given a
 strong structural component in food inflation and elevated global food
 price situation. The cumulative impact of monetary measures over the
 last 15 months will continue to be felt over the course of 2011-12,
 contributing to moderation in both growth and inflation.
 
 The Global recovery is expected to sustain in 2011 and growth is
 projected to decelerate in advanced economies as well as in EMEs due to
 impact of fiscal stimulus and monetary tightening, high oil and other
 commodity prices etc.
 
 Developments in Indian Banking
 
 Amidst the improving domestic economic conditions, performance of
 Scheduled Commercial Banks (SCBs) during 2010-11 has been quite
 impressive. Aggregate Deposits of the SCBs grew by 15.8% during the
 year 2010-11 to a level of Rs.  52,04,703 crore while credit flow
 achieved a growth of 21.4% during the same period, to reach a level of
 Rs. 39,38,659 crore.  The Broad Money (M3) as at end March 2011 was Rs.
 Rs.8,94,016 crore, with a growth of 15.9% on year-on-year basis.
 
 Performance Highlights of the Bank
 
 I have immense pleasure in sharing with you, your Banks performance
 for the year 2010-11.
 
 O The Total Business Mix of your Bank stood at Rs.2,35,893 crore as on
 March 31, 2011 as against Rs.2,04,442 crore in the previous year
 reflecting an increase of Rs.31,451 crore (growth of 15.38%). As at
 end-March 2011, Deposits and Gross Advances stood at Rs. 1,39,054 crore
 and Rs.96,839 crore, registering a growth of 15.63% and 15.03%,
 respectively.
 
 o The CD ratio of your Bank stood at 69.73% as of March 2011 as against
 70.22% as of March 2010. The Advances portfolio of the Bank is well
 diversified, balanced and the credit needs of productive sectors of the
 economy have been met.
 
 o The Priority Sector (PS) Advances of your Bank constituted 42.70%-of
 Adjusted Net Bank Credit (ANBC) as against the requirement of 40%. In
 value terms. PS Advances increased by Rs.6,267 crore (a growth of
 21.33%) to reach a level of Rs.35,651 crore as at end March 2011 from
 Rs.29.384 crore as at end March 2010.
 
 o Total advances to Agriculture Sector stood at Rs.12.721 crore, out of
 which advances to Direct Agriculture was Rs.8,888 crore. Total
 Agriculture Advances grew by 12.90%.  Direct Agriculture grew by
 35.39%.
 
 O Banks exposure to Small and Medium Enterprises (SME) increased to
 Rs. 17,670 crore from Rs.12,571 crore. thus growing by 40.56% during
 2010-11.
 
 o Loans for Education increased to Rs.1,102 crore fom Rs.972 crore,
 fliusreconirigagrowtiof13i4%duringtieyear2010-11.
 
 o Loans for Housing increased to Rs.8.042 crore from Rs.  7,946 crore.
 thus recording a growth of 1.2% during (he year 2010-11.
 
 o OperatingPrc4it0ftheBankasatendMarch2O11rec0ideda growth of 34.01 %
 to Rs.3,245 crore from a level of Rs.2.422 crore as at the end of the
 preceding year. During the same period. Net Merest Income (Nil)
 increased by 43.69% to Rs.4,178 crore from Rs.2,907 crore.
 
 o The Net Profit of your Bank crossed Rs.1,500 crore and reached to
 Rs.1 ,502.87 crore during 2010-11 from a level of
 Rs.1,134.68croreduring20u9-m
 
 0 Your Bank made a recovery of Rs.1 ,284 crore in NPAduring 2010-11.
 The Gross hlPA stood at a level of Rs.1,921 crore which is 1.98% of
 Gross Advances as on 31.03.2011. The Net NPA of the Bank was at 0.98%
 of Net Advances at the end of March 2011.
 
 Risk Management/Implementation of BASEL II
 
 I am happy to inform you mat your Bank is Basel H compiant in terms of
 the New Capital Adequacy Framework guidefnes issued by the Reserve Bank
 of India and Capital to Risk-Weighted Assets Ratio (CRAR) of the Bank
 stood at 14.23%, wei above the mrumurn requirement of 9% as stipulated
 by RBI. The Bank has put in place adequate Risk Management Systems
 which are reviewed and updated periodically in the Mght of guktefnes
 received from Reserve Bank of India from ametotme.
 
 New Initiatives
 
 O During the Financial Year ended March 2011, the Bank marketed 42393
 policies of Ms joint venture fCanara HSBC Oriental Bank of Commerce Lie
 Insurance Company United*) with first premium coMeoSon aggregating Rs.
 159.80 crore as compared to 38097 policies with first premium cotecfion
 of Rs. 119.12 crore during the last financial year. Bank earned a Gross
 Commission of Rs.3S.56 crore during the Financial Year 2010-11.
 
 o Towards improving profitabttty, the Bank has focused on raising low
 cost resources through mobiizatjon of CASA deposits. During the year
 Hie Bank has started providing Merest on SB accounts to customers on a
 dafty product basis.
 
 O The Bank pioneered a unique Term Deposit Scheme cased -VARJSHTH
 SAMMAN* w.e.f. 5* Apri, 2011 for prospective senior citizens in tie
 50*s Age Bracket It is a First such Scheme floated jn Banking Industry
 which gives Long Term InterestAdvantap* to Prc«pec6ve Senior Citizens.
 
 -  Bank has launched Oriental Grameen Swarojgar Card (a
 micro credit product) for empowerment of rural entrepreneurs and to
 further speed up financial inclusion by way of providing finance to
 micro activities like cobblers, vegetable vendors, tailors, etc. to
 eligible residents in the villages allotted to the Bank.
 
 o Bank has also launched a Micro Thrift Scheme called ORIENTAL GRAMEEN
 JAMA YOJANA - a cumulative deposit scheme for the financially excluded
 people in rural areas.
 
 o The Bank has signed a MoU with Equifax Credit Information Services
 which is one of the largest Credit Bureau of USA.
 
 o The Bank became the 1 Public Sector Nationalised Bank to commence
 the enrollment process for issuance of Unique Identification Number
 (Aadhaar) for the customers of the Bank and public at large.
 
 o Bank commenced the sale of 24 Carat Gold Coins of 999.9 fineness
 through its identified Branches across India.
 
 IT Initiatives
 
 O Launch of Income Tax Payment Facility through ATMs,
 
 o Online ASBA Facility Operatjonalised,
 
 o Instant Funds Transfer through Inter Bank Mobile Payment System
 (IMPS),
 
 o Operationalised voice enabled ATMs for visually impaired and
 Biometric ATMs for rural masses,
 
 o Value Added Services through ATMs like Cheque Status Inquiry & Stop
 Payment Request,
 
 o Facility of Online e-commerce transaction through OBC Debit Card
 along with Verified by VISA as 2nd factor authentication.
 
 o The Bank is in the process of launching a Co-Branded Credit Card with
 a leading Public Sector Bank.
 
 Technology for Better Customer Service
 
 o Your Bank is amongst the few Public Sector Banks where 100% of the
 business is routed through the Core Banking Solution. The CBS related
 IT infrastructure has been upgraded during the year for better
 performance and to cope with increased business load. Afl offices of
 the Bank are connected to the centralized network offering one stop
 seamless services to customers. As at the end of March 2011, your Bank
 has got ATM base of 1192 and more than 1.2 lakh transactions are
 happening per day through a card base of 25.83 lakh.
 
 o Your Banks Corporate Website is contemporary and in line with our
 Corporate image. Value added links like NSE Market Tracker, NSE Foreign
 Exchange Tracker, BSE Sensex, NSE Nifty and sports update etc have been
 incorporated in the site. The website has also been secured by
 implementing SSL encryption from VeriSign.
 
 o Additional features such as Onfine NEFT, e-Commerce, Online Trading
 of shares etc. have also been made available through Internet Banking.
 With addition of 77,000 new customers during the year, the Internet
 Banking customer base has reached to 3.53 lakh and average dafly Ms to
 26000.
 
 o Mobile Banking Services are offered facilitating balance inquiry,
 Infra-Bank funds transfer, Inter-Bank funds transfer,
 
 o Your Bank has also launched e-commerce for Debit Cards through
 Verified by VISA, whereby customers can undertake merchandise
 transactions through net.
 
 o Additional security measures introduced in facility of funds transfer
 through l-Banking.
 
 International Presence
 
 Your Bank made its foray in International arena on 30.03.2009 with the
 opening of its first representative office at Dubai. This overseas
 venture is the beginning of the Banks quest to spread its wings at
 other important International Financial Centers in the future. Our
 representative office at Dubai has been extending assistance to NRIs
 and PIOs about business opportunities in India and marketing the Banks
 products & services.
 
 Corporate Social Responsibility
 
 As a part of its Corporate Social Responsibility, your Bank set up a
 Trust in the name of OBC Rural Development Trust on 09.12.2005 for
 setting up of Rural Self Employment Training Institutes (RSETIs) and
 taking up other developmental activities.  The Trust set up training
 Institutes in four Districts, viz., Jaipur, Sriganganagar, Ferozepur
 and Dehradun. Free trainings on skill development to rural unemployed
 youth are being imparted for self-employment generating activities such
 as Tailoring, Dress designing & stitching, Embroidery, Phulkari, small
 scale agri food processing, etc. The activities of the Trust also cover
 education of farmers in crop diversification, formation of Self Help
 Groups, Skill improvement, Entrepreneurship development and promoting
 use of non-conventional energy. Since inception a total of 588 training
 programmes have been conducted benefiting 20,586 candidates.
 
 Bank has operationalised voice enabled ATMs for the visually impaired
 and Bio-metric ATMs. Your Bank has assisted in improving computer
 literacy among children and has provided financial assistance to NGOs
 and Institutions committed to social causes.
 
 Financial Inclusion Program: Bank has adopted 300 villages during
 2010-11 for 100% Financial Inclusion. There are 1,77,116 identified
 households, of which 77,940 have been enrolled for issuing smart cards.
 Smart cards have been issued to 25,823 persons. Presently basic banking
 services (cash deposit & withdrawal) are being provided through smart
 cards by using hand held devices (POS) at the doorstep of villagers.
 During 2011 -12, it is envisaged to cover 270 villages under the
 Financial Inclusion Plan.
 
 Your Bank is providing free medical assistance to villagers in Sivapuri
 Patti village (Sivaganga District) Tamil Nadu through Oriental Rural
 Clinic programme which has benefitted about 2500 persons during the
 Financial Year 2010-11.
 
 Corporate Governance
 
 Your Bank has been maintaining the highest standards of Corporate
 Governance by adopting best industry practices. The Bank has been
 adhering to the corporate governance guidelines laid down by SEBI and
 RBI.
 
 Banks Corporate Governance policies recognize the accountability of
 the Board and the impact of its decisions on all our constituents
 including shareholders, depositors, lenders, customers, employees and
 the Regulatory authorities.
 
 Customer Service
 
 With our customers, we share a long and enduring relationship that is
 built over the years on trust and an abiding hope that the
 
 Bank will always partner for the fulfillment of their dreams in a
 professional manner. We are committed for bringing to our esteemed
 customers the best of banking services, products and a tradition of
 excellence.
 
 Dividend
 
 Your Banks policy of declaring dividend is to reward the share holders
 as well as to plough back sufficient profits for maintaining a healthy
 capital adequacy ratio & supporting future growth.  Accordingly, your
 Directors are happy to propose a dividend of Rs.10.40 per share (104%)
 for the year ended 31st March, 2011 as against Rs. 9.10 per share (91
 %) paid for the preceding year.
 
 Looking Forward
 
 Your Banks financial soundness is reflected in its consistent
 performance over the years with a state of the art technology platform
 to meet the customers aspiration. The 1.5 million strong customer base
 with a committed team force stands testimony to this. Taking forward
 the innovation in customer service, the bank has introduced various
 delivery channels and a number of on line services which makes service
 delivery efficient, effective and error free besides being timely.
 
 For the year 2011-12, the Bank is looking optimistically for business
 mix growth of more than 20%. Towards this we have planned to add more
 than 150 branches during 2011 -12.
 
 1836 personnel including 241 Specialist Officers have been recruited
 during 2010-11. Recruitment process for 526 Specialist Officers, 500
 Probationary Officers and 1750 Clerks is underway.  Recruitment of
 personnel at different cadres & continuous training are some
 initiatives directed towards building the Team OBC in the service to
 its customers.
 
 More importantly, a special focus is being laid on Financial Inclusion
 by way of installation of biometric ATMs, issuing fresh Biometric
 Cards, enrolling customers under No-Frill Accounts, adopting more
 villages, appointing Business Correspondents and forming new Self Help
 Groups (SHGs)/Joint Liability Groups (JLGs) during the year.
 
 The ultimate objective of the Top Management of the Bank is to equip
 the Bank with more stability and growth orientation through four key
 parameters i.e. Healthy CASA, well - diversified Advances portfolio,
 strong NIM and stringent NPA Management.
 
 On behalf of the Board of Directors and on my own behalf, I take this
 opportunity to express my sincere thanks and gratitude to all the
 Shareholders of the Bank for reposing their faith in the Management.
 The success of the Bank lies in attaining the acceptance of our
 stakeholders about the Banks core values, passion for customer service
 and credibility of leaders. I also thank every employee of the Bank for
 their dedication and our loyal customers for their continued support
 and patronage. My sincere thanks to the Ministry of Finance, Government
 of India and the Reserve Bank of India for their continued guidance and
 support.
 
 (NAGESH PYDAH) 
 CHAIRMAN & MANAGING DIRECTOR