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Federal Bank pays 25 p.c. on enhanced capital
KOCHI:
The Aluva-based Federal Bank has registered a drop in net profit during the year ended March 31, 2005. However, the bank Chairman, M. Venugopalan, attributed the 34 per cent drop in the net profit to one time absorption of depreciation on investments on account of transfer of securities to held to maturity (HTM) category and dip in trading gains. The board has proposed a dividend of 25 per cent for 2004-05 on the increased equity after the issue of the bonus shares at 2:1 ratio during the fiscal. The net profit for the whole year was Rs. 90.09 crore against Rs. 136 crore in the previous year
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