Bank of India
|Bank of India|
Bank of India is a nationalised bank with a presence in all the major trade centers of the world. It was founded on September 7, 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership until July 1969 when it was nationalised along with 13 other banks. The Bank has 3021 branches in India spread over all states/union territories including 136 specialized branches. There are 28 branches/offices (including three representative offices) abroad at key banking centers such as London, New York, Paris, Tokyo, Hong Kong and Singapore. The international business accounts for around 17.82% of Bank's total business.
The Bank came out with its maiden public issue in 1997. Total number of shareholders as of 31/03/2009 was 2,35589.
Bank of India was the first Indian bank to open a branch outside the country, in London, in 1946, and also the first to open a branch in Europe -- in Paris in 1974.
In 1921 the bank entered into an agreement with the Bombay Stock Exchange (BSE) to manage the BSE's clearing house. That association developed into a joint venture with BSE, BOI Shareholding Ltd., to extend depository services to the stock broking community.
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- History. Bank of India.