Bank of India was founded on 7th September, 1906 and was under private ownership and control till July 1969, when it was nationalised along with 13 other banks.
Beginning with one office in Mumbai, and a paid-up capital of Rs.50 lakh and 50 employees, today the Bank has a strong national presence and sizable international operations. In business volume, the Bank occupies premier position among nationalised banks.
The Bank has 5016 branches across India that are controlled through 54 Zonal Offices.
The Bank came out with its maiden public issue in 1997 and a follow-on Qualified Institutions Placement in February 2008. In 1989, it became the first nationalised bank to establish a fully computerised branch and ATM facility at the Mahalaxmi Branch in Mumbai. The Bank is also a Founder Member of SWIFT in India. It pioneered the introduction of the Health Code System in 1982, for evaluating/rating its credit portfolio.
At present, the Bank has overseas presence in 22 foreign countries spread over 5 continents – with 60 offices including 5 Subsidiaries, 5 Representative Offices and 1 Joint Venture, at key banking and financial centres viz., Tokyo, Singapore, Hong Kong, London, Jersey, Paris and New York.