Pune: Bank of Maharashtra (BoM) recently presented a dividend cheque amounting to Rs 918.39 crore for the financial year 2024-25 to Hon’ble Finance Minister Smt. Nirmala Sitharaman. The presentation was made by Nidhu Saxena, MD & CEO of Bank of Maharashtra, accompanied by M Nagaraju, Secretary, and Ashish Madhavrao More, Joint Secretary, from the Department of Financial Services, Government of India.
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Nidhu Saxena, MD & CEO, Bank of Maharashtra presenting dividend cheque to Hon’ble Finance Minister Nirmala Sitharaman in the presence of M Nagaraju, Secretary and Ashish Madhavrao More, Joint Secretary, Department of Financial Services, Government of India.
For FY 2024-25, the bank declared a dividend of Rs 1.50 per equity share, which represents a 15 percent return. This payment underscores the bank’s strong financial performance throughout the year, with a net profit growth of 36.12%, rising to Rs 5,520 crore from Rs 4,055 crore the prior year.
Bank of Maharashtra has consistently demonstrated a solid performance, boasting a 15.30% increase in total business along with a 13.44% rise in deposit mobilization for FY 2024-25.
This progress can be attributed to the commitment and hard work of the bank’s employees, along with the efficacy of its strategic decisions and operational policies. Their emphasis on digitization has significantly enhanced customer experience. Currently, the Bank of Maharashtra operates a robust network of over 2,600 branches and 2,400 ATMs across 28 states and 7 Union Territories.
