Oriental Bank of Commerce FPO Details

Established in 1943, Oriental Bank of Commerce (OBC) is a leading public sector bank in India, nationalized in 1980 and regulated by the Reserve Bank of India under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.
The Bank offers a comprehensive range of banking products and services across four principal segments: corporate and commercial banking, retail banking, agricultural lending, and treasury operations. Its corporate and commercial offerings include term loans, working capital facilities, bill discounting, export credit, letters of credit, guarantees, and cash management services. The retail banking segment covers housing loans, automobile loans, education loans, consumer loans, trade finance, loans to women entrepreneurs, and defence personnel loans. The Bank has developed dedicated agricultural financing products including the Oriental Green Card, Oriental Kisan Gold Card, and OBC Grameen Project, catering primarily to farmers in northern India across states such as Punjab, Haryana, Uttar Pradesh, and Rajasthan. Treasury operations encompass management of the Bank's investment portfolio, foreign exchange transactions, and derivative products including interest rate and currency swaps.
The Bank operates a network of 1,121 branches excluding service branches, 167 extension counters, and 396 ATMs across more than 50 cities in India as of December 31, 2004. It has implemented a Core Banking Solution across 259 interconnected branches and offers internet banking and an ATM-sharing arrangement called MITR with four other banks, providing access to over 2,500 ATMs. The Bank also offers e-rail ticket booking, depository participant services, prepaid and debit cards, and third-party insurance distribution.
In August 2004, OBC amalgamated the erstwhile Global Trust Bank (EGTB) as per a Government of India scheme, integrating 104 outlets, approximately one million customers, and a fully computerized IT infrastructure including a centralized Core Banking Solution, two data centres, and a wide area network. Post-amalgamation, the Bank has been actively managing EGTB's non-performing assets through recovery, restructuring, and legal proceedings.
As of December 31, 2004, the Bank had total deposits of Rs. 426.10 billion, total advances of Rs. 219.16 billion, and total income of Rs. 29,593.3 million for the nine months ended December 31, 2004. The Government of India is the largest shareholder and holds approximately 51.09% of the Bank's equity shares. The Bank had 14,591 employees as of December 31, 2004 and operates four training centres including dedicated facilities for foreign exchange and information technology training.
OBC has been rated AAA by ICRA, recognized as Best Bank for 2003 by Business India, and declared Best Under a Billion by Forbes Global 200. It was the first public sector bank in India to achieve a zero percent net NPA level and was the first nationalized bank to tap the capital market through a public issue in 1994.