Oriental Bank of Commerce, a leading nationalized bank has said that it estimates the net profit of the bank to cross the benchmark level of Rs.1000 crore in this financial year.

"Given the track record we should cross Rs 1,000 crore (net profit) during the current fiscal," Oriental Bank of Commerce Chairman and Managing Director T Y Prabhu said.

The target estimated by the bank does not seem vague as it has already achieved a net profit of Rs.817 crore in the first three quarters of 2009-10.

The bank reported a net profit of Rs 289.43 crore during the last quarter September-December 2009 thus showing 14.76 per cent growth.

Talking about the Net Interest Margin (NIM), Mr. Prabhu said, "The fiscal should close with NIM of 2.25 per cent against 2.20 per cent last fiscal."

The third quarter NIM of the bank was recorded at 3% as compared to 2.02% in the same quarter last fiscal.

The bank has also included mobile banking facility and biometric ATMs as part of financial inclusion process.

"We are taking convenience to a new level by providing customers with an ability to stay connected with their bank even when they are on the go." Customers shall now be able to make balance enquiries, make inter-bank or intra-bank fund transfer through his or her mobile phone," Mr. Prabhu pointed on this note.