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Bank of Maharashtra pays 20 p.c.

NEW DELHI: Bank of Maharashtra has announced a five-fold increase in its net profit at Rs. 271.84 crore in 2006-07 against Rs. 50.79 crore in 2005-06. The bank posted a net profit of Rs. 75.27 crore for the quarter ended March 31, 2007, against a loss of Rs. 33.41 crore in the same period a year ago. The total income during the year increased to Rs. 2,987 crore from Rs. 2,527 crore, up 18 per cent. The bank declared a dividend of 20 per cent as compared to four per cent last year.

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