Private sector lender Kotak Mahindra Bank today said its consolidated net profit for the fourth quarter of 2008-09 declined by 12.26 per cent to Rs 210.66 crore over the same period last year.

The company had a net profit of Rs 240.10 crore for the same quarter ended March 2008, Kotak Mahindra Bank said in a filing to the Bombay Stock Exchange.

For the year ended March 31, the company has posted a net profit of Rs 652.38 crore, down 34.18 per cent from Rs 991.22 crore for the same period corresponding fiscal.

The board  of directors of the bank has proposed a dividend of Rs 0.75 a piece to the shareholders.

In a separate filing to the BSE, the bank has informed that it has appointed Shishir Bajaj as an additional director on the board of the bank.

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