BoB Q4 net up 12.35 pc, dividend of 80 pc

Mumbai, May 20: State-run Bank of Baroda has registered a net profit increase of 12.35 per cent at Rs 276.44 crore for the quarter ended March 31, 2008 as compared to Rs 245.66 crore in the corresponding quarter in the previous year.

The board of directors of the Bank at its meeting held today has also recommended dividend of 80 per cent, Rupee eight per equity share of Rs 10, for the financial year 2007-08, BoB informed the stock exchange. Total Income grew from Rs 3,069.80 crore to Rs 3,885.70 crore, however, the net interest merging during the same period remained almost flat during the same period, BoB said.

The Bank's net profit rose to Rs 1,435.52 crore for the year ended March 31, 2008 from Rs 1,026.47 crore in the previous fiscal. While, total income grew at Rs 13,864.51 crore from Rs 10,385.88 crore during the year, BoB added.

UNI