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3:2 bonus from Kotak Mahindra Bank
MUMBAI:
Kotak Mahindra Bank plans to focus on lending to corporates and small and medium enterprises (SMEs), said Uday Kotak, Executive Vice Chairman and Managing Director. "The SME sector is exploding" and there is a lot of scope for lending in this sector, said Mr. Kotak while addressing a press conference, here on Tuesday, to announce the bank's results. The bank announced a consolidated net profit of Rs. 170.91 crore for the year ended March 31, 2005 against Rs. 174.16 crore in the previous year. The board has recommended a dividend of 12.5 per cent for 2004-05 and bonus issue of three shares of every two shares held, the bank said in a release.
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