Bank of India gave dividend of ₹935.44 crore to the government

Bank of India gave dividend of ₹935.44 crore to the government

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

Managing Director and CEO Rajneesh Karnataka presented the dividend check to Union Finance Minister Nirmala Sitharaman on Wednesday.

The government holds 73.38 percent 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 rose 57 per cent year-on-year to ₹6,318 crore, compared to ₹4,023 crore in FY23.

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