 "Bank of India's net profit rises 142.3% to Rs 606 crore in Q4FY22")
Bank of India’s net profit rose 142.3 per cent to Rs 606 crore in Q4FY22, on improvement in net interest margins. It had posted a net profit of Rs 250 crore in Q4FY21. For FY22, the net profit rose 57.6 per cent to Rs 3,405 crore from Rs 2,160 crore in FY21.
The board recommended a dividend of Rs 2 per equity share (of face value of Rs 10) for 2021-22 subject to shareholders’ nod.
The bank’s share closed 1.51 per cent higher at Rs 47.15 per share on BSE. A K Das, managing director and chief executive said the board had given approval to tap the market with issue of equity capital up to Rs 2,500 crore to bring down the government’s stake.
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