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OBC declares 73% dividend for 2008-09

New Delhi, June 24, 2009

State-run lender Oriental Bank of Commerce declared a dividend of 73 per cent to its shareholders for the fiscal year 2008-09.

"Oriental Bank of Commerce, one of the fastest growing Public Sector Bank has declared a dividend of 73 per cent for its shareholders for the year ending 2008-09 in its 15th Annual General Meeting," the bank said in a release.

The total business of the bank grew by 25.72 per cent to reach Rs 1,67,434 crore in 2008-09, while deposits grew by 26.35 per cent at Rs.98,369 crore.

The advances of the bank grew by 24.41 per cent to reach Rs 68,845 crore.

The net profit of the bank increased to Rs 905.42 crore from Rs 353 crores (after amalgamation, adjustment and write off) during 2007-08.   

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