New Delhi, State-owned Bank of Maharashtra (BoM) on Friday handed over a dividend check of Rs 857 crore to Finance Minister Nirmala Sitharaman.
The check was handed over by BOM Managing Director Nidhi Saxena and Executive Director Ashish Pandey in the presence of Financial Services Secretary Vivek Joshi.
The bank declared a dividend of Rs 1.40 per equity share (14 per cent) for FY24, BoM said in a statement.
The Government of India holds 86.46 percent stake in the Pune-based bank.
It said this dividend payment reflects the impressive financial performance of the bank during the financial year.
The bank's net profit increased by 55.84 percent to Rs 4,055 crore in FY 2024, which was Rs 2,602 crore in the last financial year.
The bank has recorded an improvement of 15.94 percent in total business and 15.66 percent growth in deposit collection for 2023-24.
It added that BOM has consistently shown flexibility and adaptability to the changing market dynamics, which has enabled it to remain at the forefront in terms of service delivery and customer satisfaction.
The check was handed over by BOM Managing Director Nidhi Saxena and Executive Director Ashish Pandey in the presence of Financial Services Secretary Vivek Joshi.
The bank declared a dividend of Rs 1.40 per equity share (14 per cent) for FY24, BoM said in a statement.
The Government of India holds 86.46 percent stake in the Pune-based bank.
It said this dividend payment reflects the impressive financial performance of the bank during the financial year.
The bank's net profit increased by 55.84 percent to Rs 4,055 crore in FY 2024, which was Rs 2,602 crore in the last financial year.
The bank has recorded an improvement of 15.94 percent in total business and 15.66 percent growth in deposit collection for 2023-24.
It added that BOM has consistently shown flexibility and adaptability to the changing market dynamics, which has enabled it to remain at the forefront in terms of service delivery and customer satisfaction.
