A meeting of the Board of Directors of Bajaj Finserv Limited was held today to consider and approve the results for FY15.
The Board of Directors recommended a dividend of ` 1.75 per share – 35% (previous year – 35%). The total amount of dividend amounts to ` 27.85 crore (previous year – ` 27.85 crore).
Bajaj Finserv Limited is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers in the financial services space by providing solutions for asset acquisition through financing, asset protection through general insurance, family protection and income protection in the form of life and health insurance and retirement and savings solutions.
Bajaj Finserv participates in financing business through 61.53% holding in Bajaj Finance Limited (BFL) and in the protection business through 74% holding in Bajaj Allianz General Insurance Company Limited (BAGIC) and Bajaj Allianz Life Insurance Company Limited (BALIC), the results of which it consolidates.
The conditions continue to be challenging for the financial sector as a whole. Under such circumstances, the strong growth delivered by BFL and BAGIC is a testimony to the resilience of the group as well as the quality of the management across these enterprises. BALIC, which faced challenges in coping with significant changes in market dynamics, has improved on its new businesses.
As a result, Bajaj Finserv recorded its highest ever consolidated profit.
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