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Oriental Bank focuses to mobilize low-cost demand deposits

Oriental Bank of Commerce plans to focus on mobilizing low-cost demand deposits in order to raise its profits in 2008-09.

22 Jul 2008

Oriental Bank of Commerce plans to focus on mobilizing low-cost demand deposits in order to raise its profits in 2008-09.

The bank has attained a total business of Rs 6,000 crore for the first quarter ended June 30, 2008.

It has recorded an average growth of 35 per cent during the last five years, with deposits were growing at 24 per cent, advances by 34 per cent and net profit by 70 per cent.

The bank plans to mainly concentrate on recovery of non-performing assets by taking serious action, including a legal one, against defaulting borrowers.

The bank has set a retail credit hub, having five branches as small and mid-corporate branches to boost its advances.

 



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