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BANK OF INDIA

Jan 20, 2020 351

HISTORY:

Bank of India was first founded on September 7, In the year 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership and control until July 1969 when it was nationalized along with 13 other banks.Beginning with an office in Mumbai, with a disbursed capital of Rs.50 lakh and 50 employees, the Bank has grown rapidly over the years and has become a powerful institution with a strong national presence and major international operations. In terms of turnover, the Bank occupies a privileged position among nationalized banks.The Bank has 4963 branches in India spread across all states / territories of the Union, including specialized branches. These branches are controlled through 54 Zonal Offices. There are 60 branches / offices and 5 Subsidiaries and 1 joint venture abroad.

The Bank published its first public edition in 1997 and followed the placement of qualified institutions in February 2008.While firmly adhering to a policy of prudence and prudence, the Bank has been at the forefront of the introduction of various innovative services and systems. Business has been carried out with the successful blend of traditional values ​​and ethics and the most modern infrastructure. The Bank was the first of the nationalized banks to establish a fully automated branch and ATM facility at the Mahalaxmi branch in Mumbai in 1989. The Bank is also a founding member of SWIFT in India. He was a pioneer in the introduction of the Health Code System in 1982 to evaluate / qualify his credit portfolio.

The Bank currently has a presence abroad in 22 foreign countries in 5 continents - with 60 branches including 5 subsidiaries, 5 representative offices and 1 joint venture in the main banking and financial centers, Tokyo, Singapore, Hong Kong, London , Jersey, Paris and New York .

CHAIRMAN & MD:  Shri Melwyn Rego