Narang said that GTB, which had been taken over by OBC, was still making losses, which were booked into the accounts of the acquirer bank.
In the last two quarters, GTB had posted losses of Rs 65 crore (Rs 650 million) and Rs 10 crore (Rs 100 million) respectively, adding that the operation was likely to post a profit in the last quarter.
Narang said that in the next financial year, GTB was expected to contribute Rs 350 crore (Rs 3.5 billion) into the profit and loss account of OBC.
Some of the steps which were taken for full integration with OBC were those of merging the balance sheet of the two entities at both the head office and branch levels, and addressing the staff issue for which National Institute of Bank Management had been engaged.
At the time of acquisition of, OBC had inherited a loss of Rs 1415 crore (Rs 14.15 billion).
