The Oriental Bank of Commerce announced that its net profit grew 75.33%to Rs 317.04 crore during the January-March quarter as compared to Rs 180.82 crore during the same period a year ago.

The public sector lender recorded an increase of 9.72% in its total income, which stood at Rs 2,950.90 crore from Rs 2,689.38 crore during the same period of 2009.

For the fiscal ended March 31, 2010, OBC's net profit rose 27.43%to Rs 1,134.68 crore as compared to Rs 890.42 crore during the previous fiscal.

The total income of the banking institution climbed 15.4%to Rs 11,457.17 crore from Rs.9,927.79 crore in 2008-09.

The bank's directors have recommended a 91% dividend for the last fiscal.

The bank has also decided to hire around 3,000 business correspondents during the existing fiscal.

Going ahead, the bank plan to concentrate more on financial inclusion, said T.Y. Prabhu, Chairman and Managing Director, Oriental Bank of Commerce.

OBC offers up domestic clients with savings and current accounts, term deposits, internet banking, Suvidha deposits; business clients with  advances, retail credit products, and other services. (With Inputs from Agencies)