Bank of India’s net profit rose 142.3% to Rs 606 crore in the fourth quarter of fiscal 2022, boosting net interest margins. It posted a net profit of Rs 250 crore in the fourth quarter of fiscal 2021. Net profit in FY22 rose 57.6% to Rs 3,405 crore from Rs 2,160 crore in FY21.
Subject to shareholders’ consent, the board has recommended a dividend of Rs 2 per share (at a face value of Rs 10) in 2021-22.
- Perplexity CEO: No Financial Issues, No IPO Before 2028
- United Spirits Sells Malabar Hill Property for Rs 172 Crore
- Govt Approves Rs 62,700 Cr Deal for 156 Light Combat Helicopters from HAL
- PM Modi to Inaugurate Kashmir’s First Vande Bharat Train on 19th April
- Haldiram’s Signs Agreement with Singapore’s Temasek
Shares of the bank were up 1.51% at Rs 47.15 apiece at the close on the BSE. Managing director and chief executive officer AK Das said the board had approved the market by lowering the government’s shareholding by issuing up to Rs 2,500 crore shares.
