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Bank Of India

Bank Of India was established in 1906 by a group of eminent businessmen from Mumbai. The bank was under private ownership and control till July 1969 but after that was nationalised along with 13 other banks. It began with a paid up capital of Rs. 50 lakh and 50 employees, and bank has made a rapid growth over the years and proved itself as a mighty financial conglomerate. It occupies a premier position among the nationalised banks. It came out with its maiden public issue in 1997 and followed up on a Qualified Institutions Placement in February 2008. Total number of shareholders as on 30/06/2008 is 2,29,000.

The bank has 2884 branches in India spread over all states/ union territories including 155 specialised branches. These branches are controlled through 48 Zonal Offices . There are 27 branches/ offices (including three representative offices) abroad. Bank of India was the first Indian Bank to open a branch outside the country, at London, in 1946, and also the first to open a branch in Paris,Europe in 1974. It firmly adheres to the policy of prudence and caution and is continuously on the verge of introducing innovative services and systems with the most modern infrastructure.

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