Oriental Bank of Commerce
NSE Symbol ORIENTBANK
Oriental Bank of commerce has declared its results for the 4
th Quarter ending Mar 2012 and for the year ending Mar 2012.
QUARTERLY RESULTS
COMPARISON
Q4 FY12vs Q3 FY 12 vs Q4
FY11
Interest on
Advances in Q4 FY 12 stands
at Rs.3280.15 Cr; compared to : Rs.3237.65
Cr in Q3 FY 12, up by 1.31%; and Rs.2415.81
Cr in Q4 FY 11; up by 35.78%.
Income on
Investments in
Q4 FY 12 stands at Rs.933.85 Cr;
compared to : Rs.853.89 Cr in Q3 FY 12,
up by 9.36%; and Rs.699.87 Cr in Q4 FY 11; up by 33.43%.
Interest Earned
in Q4 FY 12 stands at Rs.4220.78 Cr;
compared to : Rs.4196.49 Cr in Q3 FY 12,
up by 0.58%; and Rs.3232.31 Cr in Q4 FY
11; up by 30.58%.
Other Income in Q4 FY 12
stands at Rs.343.75 Cr; compared to :
Rs.295.27 Cr in Q3 FY 12, up by 16.42%; and Rs.299.83 Cr in Q4 FY 11; up by 14.65%.
Total Income
in Q4 FY 12 stands at Rs.4564.53 Cr;
compared to : Rs.4491.76 Cr in Q3 FY 12,
up by 1.62%; and Rs.3532.14 Cr in Q4 FY 11; up by 29.23%.
Interest Expended
in Q4 FY 12 stands at Rs.3152.63 Cr;
compared to : Rs.3056.60
Cr in Q3 FY 12, up by 3.14%; and
Rs.2218.96 Cr in Q4 FY 11; up by 42.08%.
Net Interest Income in Q4 FY 12 stands at Rs.1068.15 Cr; compared to : Rs.1139.89 Cr in Q3 FY 12, down by(-)6.29%;
and Rs.1013.35 Cr in Q4 FY 11; up by 5.41%.
Total
Expenditure (excluding provisions ) in Q4 FY 12 stands at Rs.3810.61 Cr; compared to Rs.3664.68
Cr in Q3 FY 12, up by 3.98%; and Rs.2689.18 Cr in Q4 FY 11; up by 41.7%.
Compared to the total Income growth of 29.23%, the expenditure growth is very
steep.
Operating
Profit in Q4 FY 12 stands at Rs.753.92 Cr; compared to : Rs.827.08 Cr in Q3 FY 12, down by (-)8.85%;
and Rs.842.96
Cr in Q4 FY 11; down by (-)10.56%.Due to
heavier Expenditure Growth, Operating Profit has fallen compared to preceding
and corresponding quarters.
Provisions
in Q4 FY 12 stands at Rs.534.35 Cr;
compared to Rs.380.86 Cr in Q3 FY 12, up by 40.3%; and Rs.560.49 Cr in Q4 FY 11; down by (-)4.66%.
Provisions has again climbed to steep levels, compared to preceding Quarter.
Profit before
tax in Q4 FY 12 stands at Rs.219.57
Cr; compared to Rs.446.22 Cr in Q3 FY 12, down by (-)50.79%; and Rs.282.47 Cr in Q4 FY 11; down by (-)22.27%.
While OPT was down 11% YoY, PBT is down by 22.27%, mainly on account of Higher
Provisions.
Tax Expense
in Q4 FY 12 stands at Rs.(-)45.33 Cr;
compared to Rs.92 Cr in Q3 FY 12, and
Rs.(-)51.19 Cr in Q4 FY 11; Lower Tax Expense has to some extent
recouped the Net Profit levels from falling steeply.
Net Profit
in Q4 FY 12 stands at Rs.264.90 Cr;
compared to Rs.354.22 Cr in Q3 FY 12, down by (-)
25.22%; and Rs.333.66 Cr in Q4 FY 11; down
by (-)20.61%.
Face Value
of the Share is Rs.10; while the Paid-up Equity Share Capital is Rs.291.76 Cr.
Capital
Adequacy Ratio in Q4 FY 12
stands at 11.01%.
Basic EPS
in Q4 FY 12 stands at Rs.9.08 ; compared
to Rs.12.14 in Q3 FY 12; and Rs.13.24 in
Q4 FY 11.
% of Gross/Net NPA in Q4 FY 12 stands at 2.21%; compared to 1.89% in Q3 FY
12; and 0.98% in Q4 FY 11. This means, quality of assets has deteriorated
steeply in current quarter.
Return on
Assets in Q4 FY 12 stands at 0.6%;
compared to 0.81% in Q3 FY 12; and 0.89% in Q4 FY 12.
Public
Shareholding (%)in Q4 FY 12
stands at 42%.
Other Performance Highlights for 4th
Quarter of FY 2011-12
Ø Yield on Advances increased by 183 bps
(Q4 to Q4) to reach 12.65% from 10.82%.
Ø Interest Income increased by 30.58% (Q4
to Q4).
Ø Non Interest Income increased by 14.65% (Q4 to Q4).
Ø Net Interest Margin (NIM) stood at 2.68%.
Ø CRAR of the Bank is at 12.69% under BASEL-II (Tier-I
Capital: 10.12%; Tier –II Capital: 2.57%).
Ø
100%
system driven classification and provisioning of NPAs.
ANNUAL RESULTS COMPARISON
FY12 vs FY 11 vs FY 10
The
Annual results for FY 12 are compared below with FY11 and FY 10.
Interest on Advances in FY 12 stands at Rs.12074.65 Cr; compared to
: Rs.8953.93 Cr in FY 11, up by 34.85%;
and Rs.7567.47 Cr in FY 10;up by 59.56%.
Income on Investments
in FY 12 stands at Rs.3670.93 Cr; compared to :
Rs.2774.43 Cr in FY 11, up by 32.31%; and Rs.2461.80 Cr in FY 10;up by 49.12%.
Interest Earned
in FY 12 stands at Rs.15814.88 Cr; compared to : Rs.12087.82 Cr in FY 11, up by 30.83%; and
Rs.10257.12 Cr in FY 10;up by 54.18%.
Other Income in
FY 12 stands at Rs.1240.25 Cr; compared to :
Rs.960.07 Cr in FY 11, up by 29.18%; and Rs.1200.05 ; up by 3.35%.
Total Income in
FY 12 stands at Rs.17055.13 Cr; compared to :
Rs.13047.89 Cr in FY 11, up by 30.71%;
and Rs.11457.17 Cr in FY 10;up by 48.86%.
Interest Expended
in FY 12 stands at Rs.11599.09 Cr; compared to : Rs.7910.26 Cr in FY 11, up by 46.63%; and Rs.7349.69
Cr in FY 10;up by 57.82%.
Net Interest Income
in FY 12 stands at Rs.4215.79 Cr; compared to :
Rs.4177.56 Cr in FY 11, up by 0.92%; and Rs.2907.43 Cr in FY 10;up by 45%.
Total
Expenditure(excl.provisions) in
FY 12 stands at Rs.13914.55 Cr; compared to :
Rs.9802.75 Cr in FY 11, up by 41.95%; and Rs.9035.67 Cr in FY 10;up by 54%.
Operating Profit in FY 12 stands at Rs.3140.58 Cr; compared to
: Rs.3245.14 Cr in FY 11, down by (-)3.22%;
and Rs.2421.50 Cr in FY 10;up by 29.7%. More than proportionate Increase in
expenditure compared to Income has brought down the operating Profit.
Provisions in FY 12 stands at Rs.1714.82 Cr; compared to
: Rs.1206.53 Cr in FY 11, up by 42.13%;
and Rs.815.98 Cr in FY 10;up by 110.15%. Provisions have been climbing up
steeply over last 2 years.
Profit before tax
in FY 12 stands at Rs.1425.76 Cr; compared to :
Rs.2038.61 Cr in FY 11, down by (-)30.06%; and Rs.1605.52 Cr in FY
10;down by (-)11.2%. Steep Provisions have resulted in LOWER PBT compared to the 2 previous years.
Tax Expense in FY 12 stands at Rs.284.20 Cr; compared to
: Rs.535.74 Cr in FY 11, down by (-)46.95%; and Rs.470.84 Cr in FY 10;down
by (-)39.64%. Lower PBT has resulted in Lower Tax expense.
Net Profit in
FY 12 stands at Rs.1141.56 Cr; compared to :
Rs.1502.87 Cr in FY 11, down by (-)24.04%;
and Rs.1134.68 Cr in FY 10;up by 0.61%. Overall, FY 12 (and Q4 FY 12)
performance is UNIMPRESSIVE for OBC.
Reserves in
FY 12 stands at Rs.10793.23 Cr; compared to :
Rs.9918.97 Cr in FY 11, up by 8.81%; and Rs.7069.98 Cr in FY 10;up by 52.66%.
Capital Adequacy Ratio
stands at 11.01%.
Basic EPS
stands at Rs.39.13 in FY 12; compared to Rs.59.9 in FY 11; and compared to Rs.45.29
in FY 10; There is a steep reduction in EPS in FY 12.
% of Gross/Net NPA
stands at 2.21% in FY 12; 0.98% in FY 11; 0.87% in FY 10. There is a steep
increase in Net NPA % in FY 12- reflecting in deteriorating quality of assets.
Return on Assets
for FY 12 stands at 0.67% compared to 1.03% in FY 11; and 0.91% in FY 10.
Overall,
the performance of OBC in Q4 FY 12 and in FY 2012 is UNIMPRESSIVE.
OTHER DETAILS
FINANCIAL RESULTS FOR THE YEAR 2011-12
BUSINESS
Ø Total Business of the Bank increased to Rs.2,69,015
Cr as on 31st Mar, 2012
from Rs. 2,35,893 Cr as on 31st Mar ,2011 - a YoY growth of 14.04 %.
Ø Total Deposits increased to Rs.1,55,965 Cr as
on 31st Mar, 2012 from Rs.1,39,054 Cr as on 31st Mar, 2011 - a YoY growth of 12.16 %.
Ø Core Deposits increased to Rs.1,12,564 Cr as
on 31st Mar, 2012 from Rs.91,246 Cr as on 31st Mar, 2011 - a YoY growth of 23.36%.
Ø Advances of the Bank increased to Rs.1,13,050
Cr as on 31st Mar, 2012 from Rs.96,839
Cr as on 31st Mar, 2011 - a
YoY growth of 16.74%.
Ø CASA Deposit increased by Rs.3480 Cr to Rs.37,628
Cr from Rs.34,148 Cr - a
growth of 10.19% (YoY).
Ø CASA Deposits to Total Deposits at 24.13%.
Ø Credit Deposit Ratio at 72.68%.
IMPORTANT RATIOS
Ø Gross NPA ratio stands at 3.17% as at 31st
Mar, 2012 and Net NPA ratio at 2.21%.
Ø Provision Coverage Ratio at 61.52%.
Ø Net Interest Margin (NIM) at 2.68% for Q4 of FY 2011-12 and 2.79% for F/Y 31st Mar, 2012.
Ø Return on Assets (RoA) at 0.60% for Q4 of FY 2011-12 and 0.67% for F/Y 31st Mar, 2012.
Ø Cost of Deposit is at 7.99% for Q4 of
FY 2011-12 and 7.69% for F/Y 31st
Mar, 2012.
Ø Yield on Advances is at 12.65% for Q4 of
FY 2011-12 and 12.16% for F/Y 31st Mar, 2012.
Ø Cost to Income Ratio is at 43.67% for Q4 of FY 2011-12 and 42.44% for F/Y 31st
Mar, 2012.
Ø Book Value Per Share at Rs.361.20 as on 31st
Mar, 2012 as against Rs.325.13 as
on 31st Mar, 2011.
Ø CRAR of the Bank is at 12.69% under BASEL-II (Tier-I
Capital: 10.12%; Tier –II Capital: 2.57%).
Ø Business per Branch increased to Rs.151.81 Cr from
Rs.145.61 Cr registering a growth of 4.26 % (YoY).
Ø Business per Employee increased to Rs.14.62 Cr from
Rs.14.18 Cr registering a growth of 3.12% (YoY).
DELIVERY CHANNELS
Ø Branch Network stood at 1772 Branches with 19
Extension Counters.
Ø 42 Branches were opened during Q4 of FY2012 and 152 Branches during F/Y 31st
Mar, 2012.
Ø 19 New ATMs during Q4 of FY-2011-12. Total ATMs
as on 31st Mar, 2012 stood at 1270.
Ø ATM Coverage is at 71.67% vis-à-vis Branch Network.
Ø 81.40% of eligible cash transactions happening
through ATMs.
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