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OBC's Q2 result, Net Profit measures 40% rise

New Delhi, October 31, 2006

OBC announced results for the second quarter ending on 30th September 2006.With a 40% jump in the Net Profit for the current fiscal year at Rs 466.01 crore as against 331.28 crore last year. The total business has crossed 19027.77 crore (gone up by 24%) as compared to 98431.57 crore last year.

Though the growth in Operating Profit has been moderate, the net profit growth has shoot up this year. The total income has shown a 21.31% increase from 2005-06. the Priority sector lending has also gone up to Rs. 15141.46 crore.

Besides operating efficiency has increased and demand for loans has escalated, especially home loans and other retail loans.

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