BoB net down 8, pays 30 dividend

The bank8217;s board of directors met on Thursday to announce the audited financial accounts.

The total income of the bank has increased to Rs 5399.73 crore for the period ended March 31, 1999 as against Rs 4714.20 crore in the previous year.

The interest income has increased to Rs 4,821 crore during 1998-99 as against Rs 4170.91 crore in the previous year and non-interest income has increased to Rs 578 crore during 1998-99 as against Rs 543 crore in the previous year.

The total interest expenditure has gone up to Rs 3247 crore during 1998-99 from Rs 2837 crore in the previousyear. Operational expense is set to go up to Rs 1,206 crore as against Rs 1,070 crore in the previous year.

The bank has made provisioning to the tune of Rs 523 crore for the financial year 1998-99 as against Rs 347 crore in the previous year.

BoB8217;s deposit base grew from Rs 39125.83 crore to Rs 44,614 crore while advances rose from Rs 19,803 crore to Rs 21,091 crore.

The bank has made a provision of Rs 95 crore with regard to wage revision of its staff.