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Oriental Bank of Commerce BSE:500315 NSE:ORIENTBANK

Oriental Bank of Commerce is engaged in Banks business. Company is listed on both NSE and BSE. NSE symbol for Oriental Bank of Commerce is 'ORIENTBANK' and BSE code for Oriental Bank of Commerce is '500315'.

About Company

Oriental Bank of Commerce is a scheduled commercial bank. The Company`s domestic services include deposits, comprised of term deposits, savings accounts, current accounts and the Suvidha deposit scheme&; advances, which consist of corporate advances, a range of retail credit products and specialty schemes, and government business, comprised of direct tax collection, pension disbursement and savings bonds. It also provides non-resident Indian banking solutions, including non-resident external accounts, non-resident ordinary accounts, foreign currency non-resident accounts and resident foreign currency accounts. It also offers debit card services. The Bank also provides treasury services and merchant banking services. The Bank has introduced products and services, such as Anywhere Branch Banking, Cash Management Service, Telebanking, automated teller machines and Internet banking through select branches. During the fiscal year ended March 31, 2006, the Bank had a total of 1,148 branches.

Oriental Bank of Commerce Stock Quotes and Charts

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Oriental Bank of Commerce User Reviews

2. StockTip  Dec 11, 2007 3:16:48 AM IST Reply

ICICI Direct Pick Of this Week:<br>Buy Price :270<br>Target Price:324<br><br>The stock trades at an attractive valuation of below<br>1x its FY09E ABV. It is trading at the lower P/ABV<br>band in the PSU banking space. At the current price of<br>Rs 271, the stock is trading at 0.9x its FY09E ABV of<br>Rs 261. Peers like PNB and IOB trade at 1.3x-1.5x<br>FY09E ABV. We believe the valuations stock deserves a<br>re-rating as the bank has successfully integrated GTB<br>and wiped-off the latters accumulated losses<br>(write-off GTBs losses will continue till FY09). It<br>has also managed its asset quality by aggressive<br>provisioning and thereby maintaining low NPAs. We are<br>witnessing an upward trend on ROEs, which we believe<br>would reach around 18.1% in FY09E. Based on the<br>Gordon growth model, the stock deserves a P/ABV<br>multiple of 1.27x on its FY09EABV (considering<br>sustainable core RoE of 15.8% and beta of 1). We<br>assign an outperformer rating to the stock with a<br>target price of Rs 324, upside of 20% over a 6-month<br>time frame. <br><br>Risks & Concerns<br>Tight monetary policy could hamper credit off-take <br>Credit off-take in the banking industry has fallen<br>from 30% in May 2007 to 23% in Sept 2007. If off-take<br>further slows down, it could affect OBCs advance<br>growth. <br><br>Adverse movement in interest rates could impact the<br>investment book <br>Interest rates in India have almost peaked but if they<br>still remain firm. If the RBI hikes the benchmark<br>rates further on liquidity concerns, then it is bound<br>to have a negative impact on investment book of the<br>bank and thereby on profitability. <br>

1. Vinay Bhandari  Oct 19, 2008 6:55:32 AM IST Reply

Hi,<br><br>I am holding 415 shares of GTB bank which is now OBC? Can you guide if these shares can be transferred over to OBC or is there any conversion happening after the merger?<br><br>Thanks and Regards<br>Vinay

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