"The bank is drawing a 'Vision Plan 2010' wherein OBC will like to reposition as a global player having strengthened its position at home," K N Prithviraj, OBC's new chairman said.
OBC also aims to transform itself from being a mere bank to a major financial services player, for which it would tie up with other players as well.
He said the bank would strive to improve its financial parameters by cutting non-performing assets and cost of deposit while increasing the return on assets, net interest margin and profits in the coming years.
Prithviraj said the bank expects a "handsome" profit growth this fiscal. Apart from OBC's own profits, he said the erstwhile Global Trust Bank, which OBC acquired last fiscal, will become a profit centre and help the bank post a higher net profit. OBC's net profit was up by 11 per cent at Rs 760.1 crore (Rs 7.6 billion) during 2004-05.
The total income rose marginally to Rs 4,077 crore (Rs 40.77 billion) in 2004-05 as compared to Rs 4,022 crore (Rs 40.22 billion) in the previous year.
OBC aims to increase its business by 33 per cent to Rs 1,00,000 crore (Rs 1000 billion) this fiscal with thrust on retail, small and medium sized enterprises.
Of the total business, Prithviraj expects the GTB entity to contribute Rs 14,000 crore (Rs 140 billion) in business (deposits and advances) this fiscal, a jump of over 50 per cent from Rs 9,000 crore (Rs 90 billion) in 2004-05.
