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Oriental Bank of Commerce (OBC) will focus on mid-corporates and small and medium enterprises (SMEs), according its Chairman and Managing Director, Mr Nagesh Pydah.
Speaking to newspersons here on Tuesday, Mr Pydah said the syndication vertical was progressing well.
“At present, we have about half-a-dozen assignments on hand involving over Rs 3,000 crore credit in this vertical,” Mr Pydah said.
On credit growth, he said OBC would be able to maintain a credit growth of 18-20 per cent in line with the projection of the RBI. Demand for credit was picking up in some sectors, including manufacturing, logistics and infrastructure, he added.
On the likely trend in interest rates, Mr Pydah hinted that the upward cycle in rates could come to an end. “My personal opinion is that RBI might pause on hiking rates going forward.”. OBC has no immediate plans to increase lending rates, he added.
OBC is in the process of recruiting over 2750 officers and clerks. It has plans to add 173 new branches during 2011-12. At present it has 1644 branches.
The total business of bank stood at Rs 2,42,770 crore as on June 30, 2011.
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