Financial institution of India pays ₹935.44 cr dividend to Govt

Financial institution of India (BoI) has paid ₹935.44 crore dividend for the monetary 12 months 2023-24 to Authorities of India.

Rajneesh Karnatak, Managing Director & CEO, offered the dividend cheque on Wedneday to Union Finance Minister Nirmala Sitharaman.

Smt @nsitharaman receives a dividend cheque of Rs 935.44 crore for FY 2023-24 from Shri Rajneesh Karnatak, Managing Director & CEO – @BankofIndia_IN. pic.twitter.com/Z0bA87UUKk

— Nirmala Sitharaman Workplace (@nsitharamanoffc) July 10, 2024

The Authorities holds 73.38 per cent stake within the public sector financial institution. The financial institution had declared a dividend of ₹2.80 per fairness share (28%) for the monetary 12 months 2023-24.

For FY24, BoI’s web revenue jumped 57 per cent year-on-year to ₹6,318 crore towards ₹4,023 crore in FY23.

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