Bank of Baroda has handed over a dividend cheque of Rs 2762 crore for the financial year 2024 25 to Union Finance Minister Nirmala Sitharaman. The cheque was presented by the bank’s Managing Director and Chief Executive Officer Debadatta Chand at the Finance Ministry office in North Block.

Senior officials from the Department of Financial Services including Secretary M Nagaraju and Joint Secretary Ashish Madhaorao More were present at the meeting along with executive directors of the bank.

For the financial year 2024 25 Bank of Baroda recorded a standalone net profit of Rs 19581 crore showing a 10.1 percent increase compared to the previous year. The bank declared a dividend of Rs 8.35 per share which is 418 percent of the face value.

Bank of Baroda is majority owned by the Government of India with a 63.97 percent stake and serves more than 165 million customers globally.

In a separate update Bank of Baroda has launched a new recurring deposit product named bob Flexi Systematic Deposit Plan or bob Flexi SDP. This plan allows customers to increase their monthly deposits while offering assured returns.

The bob Flexi SDP allows customers to raise their monthly deposit up to 10 times the base amount with a cap of Rs 1 lakh per month. The minimum monthly contribution begins at Rs 500 and extra deposits can be made in multiples of Rs 100.

The product is designed to provide both flexibility and guaranteed returns encouraging regular savings among customers.

Bank of Baroda is majority owned by the Government of India with a 63.97 percent stake and serves more than 165 million customers globally.

In a separate update Bank of Baroda has launched a new recurring deposit product named bob Flexi Systematic Deposit Plan or bob Flexi SDP. This plan allows customers to increase their monthly deposits while offering assured returns.

The bob Flexi SDP allows customers to raise their monthly deposit up to 10 times the base amount with a cap of Rs 1 lakh per month. The minimum monthly contribution begins at Rs 500 and extra deposits can be made in multiples of Rs 100.

The product is designed to provide both flexibility and guaranteed returns encouraging regular savings among customers.