Bank of Maharashtra (BoM) saw a significant 45% year-on-year increase in fourth-quarter net profit, reaching Rs 1,218 crore compared to Rs 840 crore. This surge was attributed to robust growth in both net interest income and non-interest income, alongside a comparatively lower tax provision. Additionally, the bank declared a dividend of Rs 1.40 per equity share for FY24 and approved a plan to raise Rs 7,500 crore capital in FY25, including equity issuance. As of March-end 2024, total deposits witnessed a healthy 15.66% YoY increase, reaching Rs 2,70,747 crore.
Bank of Maharashtra Sees Strong Profit Surge and Plans Capital Raise
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