Pune: Bank of Maharashtra (BoM) paid a dividend cheque of Rs 795.94 crore for the financial year 2022-23 to Hon’ble Finance Minister Smt.Nirmala Sitharaman. The dividend cheque was presented by Shri A S Rajeev, MD & CEO, Bank of Maharashtra along with Executive Directors Shri A B Vijayakumar and Shri Asheesh Pandey, in the presence of Shri Sameer Shukla, Joint Secretary, Department of Financial Services.
Bank of Maharashtra declared a dividend of Rs 1.30 per equity share (13 percent) for the financial year ending on March 31, 2023. This dividend payment reflects the bank’s impressive financial performance during the fiscal year. BoM’s net profit for the full year 2022-23 soared by 125.96% percent, reaching to Rs2602 crore, compared to Rs1152 crore in the previous fiscal year.
BoM has been consistently putting promising results and has topped the chart of PSBs in terms of deposit and loan growth for FY-21, FY-22 & FY-23, with strong fundamental indicators. The substantial increase in profitability showcases BoM’s ability to navigate challenges and generate robust returns.
BoM’s remarkable financial performance year on year demonstrates its position as an integral player in the banking sector. The bank has consistently shown resilience and adaptability to changing market dynamics, enabling it to remain at the forefront in terms of performance. Recently BoM successfully raised capital of Rs.1000 crore through QIP process, signifying strong investor confidence.
Bank of Maharashtra’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 banks to maintain profit and growth trajectory with a strong focus on digitization and ease of banking.
Currently, Bank of Maharashtra has a wide range of Branch network of 2210 branches and 2350 ATMs, operating through 28 states and 6 Union Territories.
