In Q4FY22, Bank of India’s net profit increased 142.3 percent to Rs 606 crore
On improved net interest margins, the Bank of India‘s net profit increased 142.3 percent to Rs 606 crore in Q4FY22. In Q4FY21, it had a net profit of Rs 250 crore. The net profit for FY22 increased by 57.6% to Rs 3,405 crore from Rs 2,160 crore in FY21.
Subject to shareholder approval, the board recommended a dividend of Rs 2 per equity share for 2021-22.
On the BSE, the bank’s stock closed 1.51% higher at Rs 47.15 a share. The board had given consent to approach the market with an equity capital offering of up to Rs 2,500 crore to reduce the government’s stake, according to A K Das, managing director, and chief executive.