Andhra Pradesh - Visakhapatnam   

Oriental Bank’s business goes up

CMD of the Oriental Bank of Commerce Alok K. Misra inaugurating the renovated premises in Visakhapatnam on Friday.

VISAKHAPATNAM: The total business of Oriental Bank of Commerce has increased by 25.72 per cent during 2008-09 to reach Rs. 1,67,434 crores, bank’s Chairman-cum-Managing Director Alok K. Misra said here on Friday.

Deposits went up by 26.35 per cent to stand at Rs. 98,369 crores and advances showed an increase of 24.41 per cent to reach Rs. 68,845 crores, Mr. Misra said while talking to reporters after inaugurating the renovated premises of the bank’s MVP Colony branch.

Net profit of the bank was Rs. 905.42 crores and it has declared a dividend of 73 per cent to its share holders. The bank is planning to take its branch strength to 1,500.

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