Oriental Bank of Commerce Q3 PAT seen down 18% at Rs 334 cr

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Oriental Bank of Commerce Q3 PAT seen down 18% at Rs 334 cr

State-owned Oriental Bank of Commerce is expected to report a profit after tax of Rs 334 crore in third quarter of FY12, falling 18% as compared to Rs 408 crore in a year ago quarter.

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State-owned Oriental Bank of Commerce is expected to report a profit after tax of Rs 334 crore in third quarter of FY12, falling 18% as compared to Rs 408 crore in a year ago quarter.

Net interest income is seen going up by 3% to Rs 1,061 crore from Rs 1,030 crore year-on-year.

Highlights

- 20% loan growth and deposit growth

- Margins likely to improve QoQ
* In Q2 Margins were 2.64%

- Slippages of Rs 1500 crore in Q2 -- largely due to system based NPA recognition

- Expect slippages to decline significantly QoQ

- Restructuring likely to increase as few large corporate accounts likely to be restructured