BANKINDIA

The Bank of India was founded on September 07, 1906 by a group of eminent businessmen in Mumbai. It was also under private ownership and control until July 1969 when it was nationalized along with the 13 other banks. It started with its first office in Mumbai with a paid-up capital of about INR 50 lakh and 50 employees, soon the Bank has made a rapid growth over the years and blossomed itself into a mighty institution with a robust national presence as well as sizable international operations. In terms of Business, the Bank occupies a premier position among the other banks which were nationalized.

Currently, it has 3101 branches in India which are spread across all states/ union territories, including 141 specialized branches. These branches are controlled via 48 different Zonal Offices. There are also 29 branches and offices which include the three representative offices overseas. It also came out with its maiden public issue in 1997 and followed on Qualified Institutions Placement as in February 2008. The acknowledged total number of shareholders as on September 30, 2009, is approximately 2, 15,790.

And while firmly adhering to a particular policy of prudence and caution, the Bank has been at the forefront of introducing different types of innovative services and systems. It has also conducted a successful blend of traditional values and the ethics which go along with the most modern infrastructure. Bank of India has also been the first among the other nationalized banks to establish a fully computerized branch with the ATM facility at the Mahalaxmi Branch in Mumbai in the year 1989. Also, the Bank is a founder member of SWIFT in India, and it has pioneered the Health Code System Introduction in the year 1982, for evaluating and rating its credit portfolio accurately.

Bank of India is in association with the capital market goes back to the year 1921 when it agreed with the Bombay Stock Exchange or BSE to manage the entire BSE Clearing House. In this particular association, it has blossomed into a joint venture with BSE, also known as the BOI Shareholding Ltd. for extending the depository services to the stockbroking community.

Some of its International Operations overseas:

The Bank has a presence across 4 continents and 18 countries covering all the major financial centers such as New York, London, Singapore, Paris, Tokyo, and Hong Kong. As on March 31, 2011, the Bank has a network of approximately 29 branches and offices overseas, which include 5 representative offices abroad.