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Bank of India

From Wikipedia, the free encyclopedia
Not to be confused with The Bank of India (1828).

Bank of India
Company typePublic
BSE: 532149
NSE: BANKINDIA
ISININE084A01016
Industry
Founded7 September 1906; 118 years ago (1906-09-07)
HeadquartersMumbai, Maharashtra, India
Number of locations
  • 5,200 Branches
  • 5,551 ATMs
 (March 2023)
Key people
Products
RevenueIncrease ₹66,804 crore (US$7.8 billion) (2023)[2]
Increase ₹4,828 crore (US$570 million) (2023)
Increase ₹3,839 crore (US$450 million) (2023)[3]
Total assetsIncrease₹826,035 crore (US$97 billion) (2023)[3]
OwnerGovernment of India[4]
Number of employees
50,944(March 2024)
SubsidiariesBOI Merchant Bankers Ltd

BOI Shareholding Ltd

Bank of India Investment Managers Pvt Ltd Bank of India Trustee Service Pvt Ltd
Capital ratio16.06% (Dec 2023)[3]
Websitewww.bankofindia.co.in

Bank of India (BoI) is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founding member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates provision of cost-effective financial processing and communication services.

As on 31 December 2023, Bank of India's total business stands at ₹1,272,887 crore (US$150 billion),[3] has 5,200 branches and 8166 ATMs & CRM around the world (including 22 overseas branches).[3]

History

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Bank of India was founded on 7 September 1906 by a group of eminent businessmen from Mumbai, Maharashtra, India. The Bank was under private ownership and control till 19 July 1969 when it was nationalised along with 13 other banks.[5]

Beginning with one office in Mumbai, with a paid-up capital of ₹5 million (US$59,000) and 50 employees, the Bank has made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. In business volume, the Bank occupies a premier position among the nationalised banks.

The bank has over 5,084 branches in India spread over all states and union territories including specialized branches. These branches are controlled through 54 zonal offices. There are 60 branches, 5 subsidiaries, and 1 joint venture abroad.

The Bank came out with its maiden public issue in 1997 and follow on Qualified Institutions Placement in February 2008.[5]

CMDs since nationalization

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  • 1969–1970 : Tribhovandas Damodardas Kansara
  • 1970–1975 : J.N.Saxena
  • 1975–1977 : C.P.Shah
  • 1977–1980 : H C Sarkar
  • 1981–1984 : N Vaghul
  • 1984–1986 : T. Tiwari
  • 1987–1991 : R. Srinivasan
  • 1992–1995 : G. S. Dahotre
  • 1995–1997 : G. Kathuria
  • 1997–1998 : M.G.Bhide
  • 1998–2000 : S Rajagopal
  • 2000–2003 : K.V.Krishnamurthy
  • 2003–2005 : M.Venugopalan
  • 2005–2007 : M Balachandran
  • 2007–2009 : T. S. Narayanswami
  • 2009–2012 : Alok Kumar Misra
  • 2012–2015 : Ms. V.R.Iyer [6]
  • 2015–2015 : B.P. Sharma [Executive Director with Additional charge as MD & CEO]
  • 2015–2017 : Melwyn Rego [MD & CEO]
  • 2017–2019 : Dinabandhu Mohapatra [MD & CEO] [7]
  • 2019–2023: Atanu Kumar Das
  • 2023–Present: Rajneesh Karnatak

See also

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References

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  1. ^ "Rajneesh Karnatak appointed MD & CEO of Bank of India". The Times of India. 29 April 2023.
  2. ^ "Annual Report of Bank of India" (PDF). Archived from the original on 20 July 2021. Retrieved 20 July 2021.
  3. ^ a b c d e "Annual Report of Bank of India" (PDF). Archived from the original (PDF) on 20 July 2021. Retrieved 20 July 2021.
  4. ^ "Share Holding Pattern 2021" (PDF). Archived from the original (PDF) on 17 October 2021. Retrieved 17 October 2021.
  5. ^ a b indiainfoline.com. "VR Iyer, Chairperson & Managing Director, Bank of India". Retrieved 27 January 2018.
  6. ^ "Stocks". Bloomberg.com. 25 May 2023.
  7. ^ "Govt appoints heads of 7 public sector banks; managing directors of PNB, BoI shifted". Hindustan Times. 5 May 2017.
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