Introduction
Bank of India shortly called as BoI is a nationalized bank with the presence in almost all the key trade centers from around the world. It is a marketable bank that has its headquarters in the vibrant city of Mumbai, Maharashtra, India. The Bank of India was founded in the year 1906 and it has become a government maintained bank since its nationalization in the year 1969.Bank of India has nearly 4545 branches all over the country as the data collected on 31st of December 2013 which also includes 54 branches that are outside India. Bank of India is actually a founder member of SWIFT abbreviated as Society for Worldwide Inter Bank Financial Telecommunications, which enables establishment of highly cost effective financial handling and communication facilities.
Bank of India was established on the 7th day of September month in the year 1906 by a set of renowned entrepreneurs from the vibrant city of Mumbai. The Bank was actually under the private proprietorship and control till the month of July in the year 1969 when it was changed into a nationalized bank along with 13 various other banks.
International Presence
Opening with just one branch in Mumbai, with a funded capital of Rupees 50 lakhs and 50 workers, the Bank has emerged through a swift growth over the past years and bloomed into a huge organization with a strong nationwide existence and substantial worldwide operations. In commercial volume, the Bank occupies a leading spot amongst the nationalized banks.
The Bank has nearly 4545 branches in India spread over all the states and union territories including its specialized branches. These bank branches are organized through about 50 Zonal Offices. There are nearly 54 branches or offices and about 5 Subsidiaries and only 1 joint venture overseas.
The Bank emanated out of its maiden public issue in the year 1997 and it followed on the Qualified Institutions Placement in the month of February for the year 2008. However firmly obeying to a strategy of forethought and carefulness, the Bank of India has been in the lead of presenting various pioneering facilities and systems. Business has been directed with the fruitful blend of customary values and ethics and the most modernized infrastructure. The Bank of India has been the very first bank among the nationalized banks to launch a entirely computerized branch office and an ATM facility at the Mahalaxmi Branch office at Mumbai back in the year 1989.
International Presence:The Bank is also a Forefather Member of the SWIFT in India. It initiated the starter of the Health Code System in the year 1982, for evaluating or rating its recognition portfolio. Currently the Bank of India has foreign existence in about 22 different foreign countries spread over nearly 5 continents with 56 branch offices including of which 5 are Subsidiaries, 5 are Representative Offices and 1 is a Joint Venture, at the key banking and the financial centers of various cities like Tokyo, Hong Kong, London, Singapore, Jersey, Paris and New York.
The involvement of foreign branch offices in the worldwide commerce of the Bank as at on the date 31.03.2014 is as under:
Deposits 24.91%
Advances 28.42%
Business Mix 26.44%
Previous banks which used the name Bank of India:
A minimum of at least three banks having the same name 'Bank of India' has lead the setting up of the current Bank of India.
1. A person who was named Sagar Rajani started the first ever named Bank of India in the city Calcutta in the year1828, but nothing extra is well known about this particular bank.
2. The second ever Bank of India was integrated in the vibrant city of London in the year 1836 as an Anglo Indian bank, there is no strong evidence that it ever really functioned.
3. The third and the present Bank of India was recorded in Bombay which is now called as Mumbai in the year 1906.
Website www.bankofindia.com
Contact details:Head Office : BANK OF INDIA
STAR HOUSE
C - 5, "G" Block,
Bandra Kurla Complex,
Bandra (East),
Mumbai 400 051.
Ph: 022-66684444
Email: [email protected]
For enquiries : (022) – 40919191 / 1800 220 229 (all days)