Bank of India Pays Dividend of Rs. 935.44 crores to Government of India

Mumbai, July 12, 2024 – Bank of India handed over dividend cheque of Rs. 935.44 crores for the financial year 2023-24 to Government of India on 10th July 2024. The dividend cheque was presented by Shri Rajneesh Karnatak, Managing Director & CEO and all the four Executive Directors of Bank of India to Honourable Finance Minister Smt. Nirmala Sitharaman in the presence of Shri Bhushan Kumar Sinha, Govt. Nominee Director of Bank of India.

Bank of India had declared dividend of Rs.2.80 per equity share (28%) for the financial year 2023-24.

For the full year 2023-24, Bank of India’s net profit jumped by 57%, which went up from Rs. 4,023 crores in FY23 to Rs. 6,318 crores for FY24.

By successfully paying dividends to the Government of India, Bank of India reaffirms its robust financial performance and unwavering dedication to creating value for its shareholders. This accomplishment stands as a testament to the bank’s commitment to excellence and its ability to generate consistent returns.