Oriental Bank of Commerce - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

1. The above financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in their respective meetings held on January 29, 2019. The same have been subjected to "Limited Review" by the Statutory Central Auditors of the Bank in line with the guidelines issued by the

Reserve Bank of India and as per the requirements of SEBl (Listing Obligations & Disclosures Requirement) Regulation, 2015.

2. The Bank has followed the same Accounting Policies in the preparation of the interim financial results as were followed in the Annual Financial Statements for the year ended March 31, 2018.

3. The financial results for the quarter and Nine Months ended December 31, 2018 have been arrived at after considering provisions on standard assets, nonperforming assets, non-performing investments, depreciation on investments and provision for exposure to entities with unhedged foreign currency on the basis of extant guidelines/directives issued by the Reserve Bank of India. Other usual and necessary provisions have been made on estimated basis and are subject to adjustments, if any, at the year end.

4. Reserve Bank of India circular DBR No. BP.BC.113/21.04.048/2017-18 dated June 15, 2018, grants banks an option to spread provisioning for mark to market (MTM) Iosses on investments held in AFS and HFT for the quarter ended June 30, 2018 equally over up to four quarters, commencing with the quarter ending June

30, 2018. Accordingly, during the quarter and nine months ended December 31, 2018, Rs.144.34 crore and Rs.433.02 crore have been charged to the profit and loss account respectively towards such MTM losses and the balance unamortized MTM loss of Rs.144.34 crore has been carried forward, which shall be amortized in 4th

quarter of the current financial year.

5. RBl vide Circular no. DBR.No.BP.BC.108/21.04.048/2017-18 dated June 6, 2018 permitted banks to continue the exposures to MSME borrowers to be classified as standard assets where the dues between September 1, 2017 and December 31, 2018 are paid not later than 180 days from their respective original due dates.

Accordingly, the Bank has retained MSME exposure of Rs.219.79 crore as standard asset as on December 31, 2018. In accordance with the provisions of the circular, the Bank has not recognised interest income of Rs.4.76 crore and is maintaining a standard asset provision of Rs.11.38 crore as on December 31, 2018 in respect of

such borrowers.

6. Based on the review and certainty of availability of future taxable income, the Bank has recognized Deferred Tax Assets of Rs.2813 crore, during the quarter ended December 31, 2018 on account of unabsorbed depreciation and carried forward losses.

7. Pursuant to RBI Circular no. DBR.No.BP.BC.1/21.06.201/2015-16 dated July 01, 2015 banks are required to make quarterly Pillar 3 disclosures under Basel III capital regulations. The disclosures are being made available on the Bank's website with the link https://www.obcindia.co.in/obcnew/site/regulatorydisclosures.aspx. These disclosures have not been subjected to limited review by the Statutory Central Auditors of the Bank.

8. The Provision Coverage Ratio of the Bank as on December 31, 2018 is 74.99%.

9. The Government of India has infused Rs.5500 crore on December 31, 2018, which has been shown under share application money pending allotment. This is towards their contribution in the preferential allotment of equity shares of the Bank.

10.Position of number of investors complaints for the quarter ended December 31, 2018:

(i) Outstanding at the beginning of the quarter: 0

(ii) Received during the quarter: 32

(iii) Disposed-off during the quarter: 27

(iv) Outstanding at the end of the quarter: 05

11. Figures of the corresponding previous periods have been regrouped/ rearranged, wherever considered necessary to conform to current period's classification.