Oriental Bank of Commerce will set up specialised cells for small and medium enterprises and corporate sectors across the country to facilitate faster credit processing for these sectors.
Oriental Bank of Commerce has posted a net profit of Rs 1215.70 million for the quarter ended December 31, 2002 as compared to Rs 857.40 million in the quarter ended December 31, 2001.
Giving another boost to the great Indian growth story, seven domestic firms have been named as the emerging global challengers to the world's leading blue chips by the global equity research major Standard and Poor's.
The six banks that have joined the major league are Syndicate Bank, Indian Overseas Bank, UCO Bank, Oriental Bank of Commerce, IDBI Bank and Allahabad Bank.
The boards of three PSU banks - Bank of Baroda, Oriental Bank of Commerce and Andhra Bank met in deference to the Finance Ministry's insistence, but quite unexpectedly they did not roll back the rate hikes announced last week.
Global rating agency Fitch has upgraded its support ratings for several Indian banks, including ICICI Bank, HDFC, Punjab National Bank, Canara Bank, Bank of India and IDBI among others.
A new wave of e-trading in partnerships with private broking houses is getting popular with banks in recent times.
The move to make the appointment process more robust comes after last month's arrest of S K Jain, chairman and managing director of Syndicate Bank last month, over graft charges.
Shonkh Technologies International said on Tuesday its dealings with erstwhile Global Trust Bank did not involve any criminality on its part.
Foreign banking major Standard Chartered Bank has tied up with Oriental Bank of Commerce for providing agency trade services to Indian importers.
Bankers see stable interest rates in near future but are worried about the spiralling global oil prices that is exerting pressure on domestic prices and exchange rate.
Central Bureau of Investigation is probing 10 companies, which have defrauded the erstwhile Global Trust Bank, which became sick due to mounting bad debts of over Rs 1,400 crore (Rs 14 billion) and was taken over by Oriental Bank of Commerce in 2004.
Oriental Bank of Commerce will open two regional offices this week, including one in Bhubneswar as the bank focuses on eastern India to grow organically. "We will inaugurate the regional office in Bhubaneswar on December 9," a top OBC official told P
The CBI has initiated the action on the complaint of Bank of Baroda, which was a member of consortium led by Bank of India, which had approached the agency fearing that Kothari may flee the country like Nirav Modi and his uncle Mehul Choksi.
Oriental Bank of Commerce will shortly hire an international consultant to restructure and integrate the failed Global Trust Bank with itself by this fiscal end.
Oriental Bank of Commerce, which acquired Global Trust Bank last year, has filed 30 first information reports against GTB defaulters to recover Rs 1,300 crore (Rs 13 billion) of bad loans.
Oriental Bank of Commerce on Thursday announced a tie up with Oriental Insurance Company for selling general insurance products through its branches.
After consolidating its foothold in south India through the acquisition of Global Trust Bank, Delhi-based Oriental Bank of Commerce.
Finance secretary Rajiv Kumar was positive in formation of a committee consisting all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks.
Oriental Bank of Commerce is set to carry out a major manpower restructuring especially at the acquired Global Trust Bank unit, after it gets a report from National Institute of Bank Management.
Four regionally strong banks -- Bank of India, Corporation Bank, Allahabad Bank and Oriental Bank of Commerce -- are in the fray to buy out sponsor's stake in UTI Mutual Fund that manages assets worth Rs 20,000 crore
Deposit rates for non-resident Indians may rise following Tuesday's rate hike by the US central bank Federal Reserve and due to the impact of forthcoming India Millennium Deposit redemptions worth over $7 billion, bankers said on Wednesday.
The Securities and Exchange Board of India has found no insider trading in the shares of erstwhile Global Trust Bank before its merger with Oriental Bank of Commerce.
With the merger of erstwhile Global Trust Bank starting to yield rich dividends, Oriental Bank of Commerce aims to grow its business to Rs 90,000 crore (Rs 900 billion) this fiscal and trim non-performing assets to 0.5 per cent. \n
Oriental Bank of Commerce along with Bank of Baroda and Bank of Maharashtra is to form a joint venture in Malaysia, for which they are awaiting Reserve Bank's nod.
In the biggest consolidation exercise in the banking space, the government on Friday announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks.
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