OBC Plans To Raise Rs 3,000 Cr To Reduce Govt's Stake Below 75%
  • WebDesk BTVI
  • Aug 23 2019

Speaking on the all-bankers' meet, Mukesh Kumar Jain, MD and CEO of Oriental Bank of Commerce (OBC), said the agenda is to make a ground report to revive economy. He said the bank expects the gross NPA to be at 9 per cent and net NPA below 5 per cent in FY20. It is also eyeing a credit growth of 12-14 per cent and net profit of Rs 1,000 crore in FY20. The bank plans to raise Rs 3,000 crore to reduce the government's stake below 75 per cent.