Oriental Bank seeks stability through lending to SMEs, says CMD Bansal

New Delhi, Jun 20 (KNN) It is the small and medium enterprises along with mid corporate segments which are being looked at by the Oriental Bank of Commerce for stability and growth orientation in the midst of challenging times for banks on account of high level of non-performing assets (NPA).

“The ultimate aim of the top management of the bank is to equip the bank with more stability and growth orientation through growth in key parameters i.e. CASA (Current Account Saving Account), retail, agriculture, SME and mid corporate credit and strong recovery management”, OBC Chairman and Managing Director S L Bansal said.

Addressing the shareholders of the bank, he said   the endeavour would be to increase the cross selling of retail business to its captive customers and increase the fee based income.

The gross NPA OBC stood at 3.9 per cent and net at 2.82 per cent while its total business grew by 9.20 per cent during the fiscal 2013-14. (KNN Bureau)