Bank Of Maharashtra Presents ₹918.39 Crore Dividend To Finance Minister Nirmala Sitharaman

Bank of Maharashtra (BoM), a premier public sector bank in the country, paid a dividend cheque of Rs 918.39 crore for the financial year 2024-25 to Finance Minister Nirmala Sitharaman. The dividend was presented by Nidhu Saxena, MD & CEO, Bank of Maharashtra, in the presence of M Nagaraju, Secretary and Ashish Madhavrao More, Joint Secretary, Department of Financial Services, Government of India.

Bank of Maharashtra declared a dividend of Rs 1.50 per equity share (15 percent) for FY’25. This dividend payment reflects the bank’s impressive financial performance during the fiscal year. The bank’s net profit for FY 2024-25 increased by 36.12%, reaching Rs 5,520 crore, compared to Rs 4,055 crore in the previous fiscal year.

The bank has been consistently performing well with strong fundamental indicators. The bank has recorded a 15.30% increase in total business and a 13.44% increase in deposit mobilisation for the FY 2024-25.

The bank’s performance reflects the dedication and efforts of its employees, as well as the effectiveness of its strategic decisions and operational policies undertaken by the bank. This has helped the bank to maintain profit and growth trajectory with a strong focus on digitisation and ease of banking. Currently, Bank of Maharashtra has a wide range of branch network of more than 2600 branches and 2400 ATMs, operating through 28 states and 7 Union Territories.