Bank of India pays ₹935.44 cr dividend to Govt

BL Mumbai Bureau Updated - July 11, 2024 at 10:38 AM.
New Delhi, Jul 10 (ANI): Union Finance Minister Nirmala Sitharaman receives a dividend cheque of Rs 935.44 crore for FY 2023-24 from Rajneesh Karnatak, Managing Director and CEO of Bank of India, in New Delhi on Wednesday. (ANI Photo) | Photo Credit: ANI

Bank of India (BoI) has paid ₹935.44 crore dividend for the financial year 2023-24 to Government of India.

Rajneesh Karnatak, Managing Director & CEO, presented the dividend cheque on Wedneday to Union Finance Minister Nirmala Sitharaman.

The Government holds 73.38 per cent stake in the public sector bank. The bank had declared a dividend of ₹2.80 per equity share (28%) for the financial year 2023-24.

For FY24, BoI’s net profit jumped 57 per cent year-on-year to ₹6,318 crore against ₹4,023 crore in FY23.

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Published on July 11, 2024 05:08
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