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.
- Syrma SGS Trades Flat After Shinhyup Electronic JV Announcement
- Godrej Properties Buys 48-Acre Bengaluru Land, Second Deal This Week; Shares Trading Flat
- Google Rolls Out Gemini 2.5 Pro in Search with Deep Search, AI Business Calling
- China Probes Banks as Underwriting Fees Drop Below $100 Amid Price War
- Karnataka GST Dept Uses UPI Data to Nab 13,000 Evaders; Vendors Avoid Digital Payments
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.
