Bank of India has declared its fourth quarter financial results for the financial year 2009-10.

As per the experts and the Bank officials the Bank has posted a decline net profit figure due to the high provisioning for the NPAs. The net profit of the Bank has declined by 47% and reported to be Rs 428 crore during the quarter that ended on 31st March, 2010. It has registered Rs 810 crore as net profit for the same quarter in the preceding year.

The annual net profit of the company has also decreased by 42% to Rs 1,741 crore. Last year's net profit was Rs 3,007 crore. The annual NPAs provisions were at Rs 2,199 crore with Rs 1,713 crore for the fourth quarter.

The fourth quarter non-interest income has also declined by 8% during the quarter.

However, the board of directors of the bank has decided to recommend a dividend of 70% or Rs 7 a share having face value of Rs 10 to its investors for the fiscal year 2009-10.