A recent press report said that Oriental Bank of Commerce (OBC) has planned to increase its business mix growth of more than 20 per cent during 2011-12.
Mr. Nagesh Pydah, Chairman and Managing Director, of the bank said that the bank has planned to open more than 150 branches during the current fiscal in order to meet its objective of increasing its business growth of more than 20%.
The bank organized its 17th Annual General Meeting of the shareholders of the bank recently. The OBC’s shareholders gave their nod for payment of equity dividend of Rs 10.4 per share of Rs 10 each for the year ended March 31, 2011 at the annual general meeting. OBC had paid a dividend of Rs 9.10 per share of Rs 10 each for 2010-11.A dividend of Rs 10.4 per share would entail total payout of about Rs 304 crore for the bank.
The bank offers loans such as housing loan, car or vehicle loan, personal loan, education loan, advances to minority communities – as per sachar committee, list of beneficiaries under agriculture debt waiver and debt relief scheme – 2008.