In this article, we are going to discuss the Bank of India. What is the origin of BOI? Where is the Bank of India head office located? What is the interest rate on deposits in the Bank of India? Keep reading this article to find out the answer to all these questions about the Bank of India.
History of Bank of India
- Bank of India (BOI) was founded on 7 Sept 1906 in Mumbai.
- The Bank of India was under private ownership until its nationalization in 1969.
- BOI started with a paid-up capital of 50 Lakh Rupees and its initial staff strength was just 50.
- Bank of India Issue its IPO in 1997 and follow on Qualified Institutions Placement in February 2008.
- From its humble beginning now Bank of India has over 5000 branches in India including specialized branches.
Board Of Directors
Bank of India has one MD and CEO who is the head of the Board of Directors and one Non-Executive Chairman.
Board of Directors
MD and CEO
Shri Atanu Kumar Das
Shri Atanu Kumar Das
Bank of India Headquarters
Currently, the Bank has 45 offices in 18 countries across five continents, including four subsidiaries, one representative office, and one joint venture.
JV/Subsidiaries of BOI
BOI Merchant Bankers Ltd.
BOI Shareholding Ltd.
|PT Bank of India Indonesia Tbk|
BOI Axa Investment Managers Pvt. Ltd.
BOI Axa Trustee Services Pvt. Ltd.
BOI Tanzania Ltd.
BOI Uganda Ltd.
Bank of India (New Zealand)
Logo & Tagline of Bank of India
The logo of the Bank of India comprises of Indian Goddess of wealth Laxmi sitting inside a star. It represents that the money of customers with Bank of India will grow with the blessing of Goddess Laxmi.
- Bank of India Tag line is - Relationship beyond Banking.
Current Interest Rates
- To meet the diverse demands of its customers, the Bank of India offers as many as nine distinct types of savings accounts. Internet banking, mobile banking, incentives on credit card purchases, and other services are available with BOI savings accounts.
Saving Bank Account
Interesting Facts About Bank of India
- Mahalaxmi Branch at Mumbai, The Bank is one of the first among the nationalized banks to establish a fully computerized branch and ATM facility at Mahalaxmi Branch at Mumbai in 1989.
- Bank of India is one of the founder members of SWIFT in India.
- Bank of India has its global presence in the following countries:
- New Zealand
- United States
- United Kingdom
- South Africa
- 'BOI Seva' is the chatbot of the bank which helps customers in solving their queries.
Recent News about BOI
- The Bank of India's net profit for the third quarter ending December 2021 (Q3FY22) increased by 90% year on year to Rs 1,027 crore, owing to a substantial drop in provisions and contingencies.
- In Q3FY21, the net profit was Rs. 541 Crore, while in the second quarter ending September 2021, it was Rs. 1,051 Crore (Q2FY22).
- On the Bombay Stock Exchange, the Mumbai-based lender's stock closed 3.34 percent lower at Rs. 56.5 per share. In Q3FY22, the bank's NII fell by 8.8% to Rs. 3,408 crore, down from Rs. 3,739 crore in Q3FY21.
- NII was also down 3.2 percent sequentially in Q2FY22, with an NII of Rs. 3,523 crore.
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Also, Read Similar interesting facts about all the Public Sector Banks of India.
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