Speaking in Mumbai, Oriental Bank of Commerce’s Chairman and Managing Director, T Y Prabhu, said, “In the first-half of this fiscal, our credit has grown by 23 per cent. For the full year, we expect a credit growth of 20-22 per cent.”
Mr. Prabhu added that credit growth has been slightly subdued this year as compared to the previous year but now there are some signs of a pick-up.”We see some credit growth in sectors such as retail, MSME and agriculture,” He said.
Oriental Bank is also eyeing a deposit growth of 24 per cent during the year and has plans to open 97 more branches by end this fiscal. Mr. Prabhu informed that the bank has acquired license for 117 branches and has already opened 20 branches. OBC plans to raise around Rs 300 crore in its Tier-I structure in the next few days, he said.
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