Oriental Bank of Commerce announced Q3 2012-13 Results
on January 25, 2013 Oriental Bank of Commerce accompanied by EDs Mr V. Kannan & Mr Bhupinder Nayyar announcing the Q3 Financial Results 2012 – 13 in New Delhi. Also seen in the picture is Mr C. M. Khurana, CFO of the Bank.
HIGHLIGHTS OF FINANCIAL RESULTS FOR Q3 OF FY-2012-13
(Rs. In Crore)
|
Q3
FY-2012-13
|
Q3
FY-2011-12
|
% Growth (YoY)
|
Nine Months ended 31.12.12
|
Nine Months ended 31.12.11
|
% Growth (YoY)
|
|
| Operating Profit |
926.38
|
827.08
|
12.01%
|
2744.16
|
2386.66
|
14.98%
|
| Net Interest Income (NII) |
1204.44
|
1139.89
|
5.66%
|
3487.39
|
3147.64
|
10.79%
|
| Non Interest Income |
377.80
|
295.27
|
27.95%
|
1193.00
|
896.50
|
33.07%
|
|
Dec,2012
|
Dec,2011
|
Growth (YoY)
|
|
| Business Mix |
2,92,118
|
2,66,892
|
9.45%
|
| Total Deposits |
1,68,492
|
1,56,194
|
7.87%
|
| Total Advances |
1,23,626
|
1,10,698
|
11.68%
|
| Core Deposits |
1,35,613
|
1,08,992
|
24.43%
|
| Bulk Deposits |
32,663
|
46,901
|
-30.36%
|
| CASA Deposits |
40,229
|
34,805
|
15.58%
|
| CASA Deposits as percentage to Total Deposits |
23.88%
|
22.28%
|
160 bps
|
| Retail Advances |
13,588
|
12,071
|
12.57%
|
| CD Ratio |
73.47%
|
71.01%
|
246 bps
|
| Yield on Advances (9 Months) |
12.32%
|
12.09%
|
23 bps
|
| Yield on Investments (9 Months) |
7.43%
|
7.31%
|
12 bps
|
| Book Value per Share (in Rs.) |
401.72
|
356.54
|
12.67%
|
| Earnings Per Share (in Rs.) -Annualised |
46.61
|
40.07
|
16.32%
|
o Total recovery (including upgradation) Rs.392.32 crore during Q3 of FY-2012-13. Total recovery (including upgradation) during Nine Months ended 31st December,2012 is Rs.1527.87 crore against Rs.1091.92 crore during Nine Months ended 31st December,2011.
o Total restructured book of the Bank stood at Rs. 11,798 crore (addition of Rs. 741 crore during Q3) out of which aviation is Rs.1176 crore and Discoms Rs.4110 crore.
o Capital Adequacy of the Bank is 12.25%(Tier I- 9.14%, Tier-II 3.11%)
o 69 New Branches opened during the current quarter and 11 extension counters have been upgraded.48 new ATMS installed during Q3. Total delivery channels of the Bank are 3283 (1930 Branches, 01 Extension Counter and 1352 ATMs). We look forward to open another 70 Branches in the next quarter to reach 2000 Branches by 31st March, 2013.
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FINANCIAL RESULTS FOR Q3 OF FY-2012-13
Amt. (YoY
Growth) Business Mix Rs. 2,92,100 crore (9.45%)
Deposits Rs. 1,68,500 crore (7.87%)
Core Deposits Rs. 1,35,600 crore (24.43%)
Advances Rs. 1,23,600 crore (11.68%)
Operating Profit (9 Months) Rs. 2744 crore (14.98%)
Net Profit (9 Months) Rs. 1020 crore (16.35%)
Book Value Per Share Rs. 401.72
CD RATIO AT 73.47%
GROSS NPA AT 2.98%
NET NPA AT 2.14%
Performance Highlights for the Nine Months Ended 31st Dec,2012
Ø Non Interest Income increased by 33.07%
Ø Net Interest Margin (NIM) stood at 2.84% (Q3).
Ø CRAR of the Bank is at 12.25% under BASEL-II (Tier-I Capital: 9.14%; Tier –II Capital: 3.11%).
Ø Bulk Deposits reduced to Rs. 32,663 crore from Rs. 46,901 crore showing a reduction of 30.36% on YoY Basis.
Ø Provision Coverage Ratio stood at 63.55%.
Ø Total Delivery Channels: 3283 (1931 Branches/ECs plus 1352 ATMs).
PROFIT
Ø Operating Profit of the Bank stood at Rs. 926.38 crore for Q3 of FY 2012-13 as compared to a profit of Rs. 827.08 crore for Q3 of FY 2011-12 showing an increase of Rs. 99.30 crore and 12.01% (YoY).
Ø Operating Profit for Nine Months ended 31st December, 2012 stood at Rs. 2744.16 crore as compared to a profit of Rs. 2386.66 crore for Nine Months ended 31st December,2011, showing an increase of Rs. 357.50 crore and 14.98% (YoY).
Ø Net Profit of the Bank stood at Rs. 326.40 crore for Q3 of FY 2012-13.
Ø Net Profit for Nine Months ended 31st December, 2012 stood at Rs. 1020.01 crore as compared to a profit of Rs. 876.66 crore for Nine Months ended 31st December,2011, showing an increase of Rs. 143.35 crore and 16.35% (YoY).
BUSINESS
Ø Total Business of the Bank increased to Rs.2,92,118 crore as on 31st December, 2012 from Rs. 2,66,892 crore as on 31st December, 2011, registering a YoY growth of 9.45 %.
Ø Total Deposits increased to Rs. 1,68,492 crore as on 31st December, 2012 from Rs. 1,56,194 crore as on 31st December, 2011, registering a YoY growth of 7.87%.
Ø Core Deposits increased to Rs. 1,35,613 crore as on 31st December, 2012 from Rs. 1,08,992 crore as on 31st December, 2011, registering a YoY growth of 24.43%.
Ø Advances of the Bank increased to Rs. 1,23,626 crore as on 31st December, 2012 from Rs. 1,10,698 crore as on 31st December, 2011, registering a YoY growth of 11.68%.
Ø CASA Deposit increased by Rs. 5424 crore to Rs. 40,229 crore as on 31st December, 2012 from Rs. 34,805 crore as on 31st December, 2011, registering a YoY growth of 15.58%.
Ø CASA Deposits to Total Deposits at 23.88%.
Ø Credit Deposit Ratio at 73.47%.
INCOME
Ø Non Interest Income during Q3 of FY 2012-13 increased by 27.95% to Rs. 378 crore from Rs. 295 crore in Q3 of FY 2011-12.
Ø Non Interest Income during Nine Months ended 31st December, 2012 increased by 33.07% to Rs. 1193 crore from Rs. 897 crore in Nine Months ended 31st December,2011 mainly due to recovery of Rs. 433.43 crore in Technical Write Off Accounts.
Ø Total Income during Q3 of FY 2012-13 increased by 7.90% to Rs.4847 crore from Rs. 4492 crore in Q3 of FY 2011-12.
Ø Total income during Nine Months ended 31st December, 2012 increased by 14.99% to Rs. 14,363 crore from Rs. 12,491 crore in Nine Months ended 31st December, 2011.
Ø Net Interest Income during Q3 of FY 2012-13 increased by 5.66% to Rs. 1204 crore from Rs.1140 crore in Q3 of FY 2011-12.
Ø Net Interest Income during Nine Months ended 31st December,2012 increased by 10.79% to Rs. 3487 crore from Rs.3148 crore in Nine Months ended 31st December,2011.
IMPORTANT RATIOS
Ø Gross NPA ratio stands at 2.98% as at 31st December, 2012 and Net NPA ratio at 2.14%.
Ø Provision Coverage Ratio at 63.55%.
Ø Net Interest Margin (NIM) at 2.84%.
Ø Return on Assets (RoA) at 0.70% for Q3 of FY 2012-13 and 0.74% for Nine Months ended 31st December,2012.
Ø Cost of Deposit is at 7.80% for Q3 of FY 2012-13 and 7.91% for Nine Months ended 31st December,2012.
Ø Yield on Advances for Nine Months ended 31st December,2012 increased by 23 bps to reach 12.32% from 12.09%.
Ø Cost to Income Ratio is at 41.45%.
Ø Yield on Investments for Nine Months ended 31st December, 2012 increased by 12 bps to reach 7.43% from 7.31%.
Ø Book Value Per Share at Rs. 401.72 as on 31st December, 2012 as against Rs. 356.54 as on 31st December,2011.
Ø CRAR of the Bank is at 12.25% under BASEL-II (Tier-I Capital: 9.14%; Tier –II Capital: 3.11%).
Ø Business per Branch stood at Rs. 151.36 crore.
Ø Business per Employee increased to Rs. 15.35 crore from Rs. 14.91 crore.
DELIVERY CHANNELS
Ø Bank’s Branch Network stood at 1930 Branches besides 01 Extension Counter.
Ø 69 New Branches opened and 11 Extension Counters upgraded by the Bank during Q3 of FY-2012-13.
Ø 140 New Branches opened and 18 Extension Counters upgraded by the Bank during Nine Months ended 31st December, 2012.
Ø Bank plans to open another 70 Branches and reach 2000 Branches by 31st March, 2013.
Ø Bank Installed 48 New ATMs during Q3 of FY-2012-13. The total number of ATMs as on 31st December, 2012 stood at 1352 (including 12 Mobile ATMs, 335 offsite ATMs and 07 Biometric ATMs).
Ø ATM Coverage is at 70.05% vis-à-vis Branch Network.
Ø 1.87 lac ATM Cards were issued during the quarter taking the total ATM customer base to 36.76 lac.
Ø 5.23 lac internet banking users and 33.38 lac customers availing SMS facility.
Ø 76% of eligible cash transactions happening through ATMs.
RETAIL CREDIT
Ø Retail loans at Rs. 13,588 crore constituted 10.99% of Total Advances and grew by 12.57 %(YoY).
o Vehicle Loan Portfolio grew by 25.07% (YoY) to reach Rs. 1335 crore as on 31st December, 2012 from Rs. 1068 crore as on 31st December, 2011.
o Direct Housing Loan Portfolio grew by 20.39% (YoY) to reach Rs. 6006 crore as on 31st December, 2012 from Rs. 4989 crore as on 31st December, 2011.
o Education Loan Portfolio increased to Rs.1222 Crore.
PRIORITY SECTOR
Ø PS Advances grew by 13.56% (YoY) to Rs.43,758 crore as on 31st December, 2012 from Rs. 38,533 crore as on 31st December, 2011.
o Agricultural advances grew by 18% (YoY) to Rs. 16,374 crore as on 31st December, 2012 from Rs. 13,876 crore as on 31st December, 2011.
o Bank issued 36,991 Kisan Credit Cards (KCCs) during the Quarter ended 31st December, 2012 with disbursement of Rs. 798 crore. Total number of KCCs as on 31st December, 2012 was 4,59,879 KCCs with an outstanding amount of Rs. 10,395 crore.
MICRO,SMALL & MEDIUM ENTERPRISES
Ø Bank’s Fund Based exposure to MSE (Micro & Small Enterprises) increased to Rs.19,679 crore from Rs.16,649 crore thereby registering an increase of Rs. 3030 crore i.e. growth of 18.20% (YoY).
Ø Bank’s Fund Based exposure to MSME (Micro, Small & Medium Enterprises) increased to Rs. 24,663 crore from Rs. 18,773 crore thereby registering an increase of Rs. 5890 crore i.e. growth of 31.38% (YoY).
Ø During Q3 of FY 2012-13, 2886 new MSE Accounts with an amount of Rs. 953 crore & 3025 MSME accounts with an amount of Rs. 1147 crore were disbursed.
Ø During the Nine Months ended 31st December, 2012, 12,569 new MSE Accounts with an amount of Rs. 1953 crore & 12,814 MSME accounts with an amount of Rs.2207 crorewere disbursed.
Ø 17 MSME Specialized Branches and 52 MSME focused Branches were functional as on 31st December, 2012.
FINANCIAL INCLUSION
Ø 3,86,985 Basic Savings Bank Deposit Accounts were opened during 9 months of FY 2012-13 taking the total number of Basic Savings Bank Deposit Accounts to 25,22,284 as on 31st December, 2012 with an outstanding balance of Rs. 466 crore.
Ø 569 Villages were allotted to the Bank with population of more than 2000 under Phase I and all of them were covered during the last Financial Year itself. 5,20,470 Basic Savings Bank Deposit Accounts / Other Savings Accounts have been opened in these 569 villages up to 31st December, 2012 covering 3,35,038households.
Ø 336 Villages have been allotted to the Bank under Phase II and all these villages have been covered. 92,150 Basic Savings Bank Deposit Accounts / Other Savings Accounts have been opened in these 336 villages up to 31st December, 2012 covering 1,01,305 households.
Ø 2,45,136 Biometric Cards have been issued in FIP allotted villages and 6,93,013transactions have been done through the same.
Ø Direct Cash Transfer: Bank has made its CBS Aadhaar number compliant and is ready to implement DCT in 43 identified Districts, in which the Bank has been allotted 107 urban wards and has 187 villages in its service area. These habitations have 1,65,438 households, of which bank accounts have been opened for 1,65,130 households. Aadhaar numbers for 7820 accounts were received from government department/ customer, all of which were seeded to the respective account.
HR INITIATIVES
Ø 648 Personnel including 148 Specialist Officers recruited during Nine Months ended 31stDecember, 2012 out of which 346 personnel including 43 Specialist Officers recruited during Q3.
Ø The Bank plans to recruit 100 Specialist Officers (77 through open market and 23 through Campus recruitment from NIBM Pune & ISI Kolkata) shortly.
Ø The Bank has given mandate to IBPS for recruitment of 800 Clerks.
NEW INITIATIVES
Ø The Bank has waived penalty on premature withdrawal of all fresh Term Deposits w.e.f. 01.01.2013.
Ø Bank is offering Term Deposits for 3 Years and above at one of the highest Rate of Interest amongst all Public Sector Banks i.e. 9.10% for General Public & 9.70% for Senior Citizens.
Ø Festival Bonanza Offer with concessional interest rate & 100% waiver in process fee for Housing & Vehicle Loan was launched in November,2012 and is extended up to 31stMarch, 2013.
Ø Home Loan & Car Loan schemes are liberalized soothing to needs of the customers and for procuring business. Besides constant innovation is done to make our Retail Loan Schemes attractive. Reduction in Interest Rate and modification in margin on Home Loans has been made w.e.f.01.01.2013. Now Bank offers Home Loans at Rate of Interest of as low as 10.40% and Car Loan at 11%.
Ø Various new Retail Credit schemes have been launched viz.
o Oriental Mortgage Loan Scheme for Individuals
o Oriental Personal Loan Scheme for Central / PSU employees
o Oriental Personal Loan Scheme for Corporate employees.
Ø The Bank has sent Personalised Calendars to all its valued customers Pan India.
Ø The Bank has signed an MoU with M/s Bajaj Auto Ltd. for Two Wheeler & Auto Rickshaw Financing.
Ø The Bank has tied Up with UTI Asset Management Company Ltd. for selling their Mutual Fund products through all our branches Pan India.
IT INITIATIVES
Ø Bank
has successfully participated in “Dilli Annashree Scheme” of Delhi
Govt. wherein the Direct Benefit Transfer (APBS) through Aadhaar Number
has been successfully credited to Dilli Annashree Beneficiaries Account
Holder through Aadhaar Number and withdrawal by the beneficiaries
through Aadhaar Enabled Payment System (AEPS) using Micro ATM, Aadhaar
Number and Rupay Debit Card.Ø Implemented Aadhaar Payment Bridge (APB) and Aadhaar Enabled Payment System (AEPS) for Direct Cash Transfer scheme of GOI.
Ø Bank has started sending SMS Alerts to depositors informing them the maturity of their Term Deposits.
Ø Bank has started sending SMS Alerts to borrowers informing them their Due Date of EMI.
Ø 41 ATMs Deployed during Q3 under OPEX Model as per guidelines of Ministry of Finance.
Ø Sending and receiving of Letter of Credit (LCs) through Structured Financial Messaging System (SFMS) enabled.
Ø System enabled for entering Area Code and Aadhaar Number.
Ø Online issuance of Term Deposit has been enabled.
CSR INITIATIVES
Ø As a part of ongoing activities of ‘OBC Rural Development Trust’ (Set Up on 09.12.2005) 79 training programmes on Skill Development have been conducted benefiting 2240 candidates during the Nine Months ended 31st December,2012 through the Rural Self Employment Training Institutes (RSETIs) in five Districts, viz., Jaipur, Sriganganagar, Ferozepur, Dehradun and Palwal.
Ø The Bank has opened 5 Financial Literacy & Credit Counseling (FLCC) Centresin Karnal and Palwal districts of Haryana, Sriganganagar in Rajasthan, Ferozpur in Punjab & Nangloi in Delhi. A total of 20,528 persons were counseled in these FLCCs, out of which 99 cases were referred for debt restructuring up to 31st December, 2012.
Ø The Bank has sponsored ‘Hunger Free Delhi’ campaign – ‘Aap ki Rasoi’ under Bhagidari programme of Delhi Govt. to provide food to poor.
Ø In 202 Primary schools 693 electricity fans have been installed and 31 Toilets have been constructed. Provision for clean drinking water has been provided in 68 schools. 7 solar panels have also been provided in these schools for uninterrupted power back-up.
Ø The Bank has donated Stainless Steel Boxes to ISKCON Food Relief Foundation for distributing meal to children of Government Schools.
Ø A Van has been donated to Arunodaya Charitable Trust for Arunodaya Deseret Eye Hospital, Gurgaon which shall be used by the Hospital for transportation of the patients to and from their Base Hospital.
Ø An Ambulance has been donated to Maharaja Agrasen Hospital Charitable Trust, Punjabi Bagh, New Delhi for medical benefit of the poor and needy patients.
Ø The Bank has initiated the campaign ‘Smoke Free Jodhpur’ in coordination with local authorities under COPTA.
Ø Donation of a Bus to an organization in Kolkata, ‘Help us to help them’ for supporting their project of “School on Wheels” for providing basic education to street children.
Ø The Bank has given support to Alok Charitable Trust for setting up of 5 KW Solar Power Plant in the village Gangagarh, District Bulandshahr, U.P. In recognition of the support given by the Bank to the Trust, a memento was also presented by Hon’ble Dr. A.P.J. Abdul Kalam, Former President of India.
Place : New Delhi
Date : 25.01.2013
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