Bank of India was established on 7th Sep, 1906 by a group of eminent businessmen from Mumbai. The Bank was private ownership and control till July 1969 when it was nationalized along with 13 other Banks.

Beginning with one office in Mumbai with a paid up capital of Rs.50 Lacs and 50 employees, the Bank has a made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. At present Net worth of the Bank surpasses Rs. 31,446.74 crores. In business volume, the Bank occupies a premier position among the nationalized Banks.

The Bank has been the first among the nationalized banks to establish a fully computerized branch and ATM facility at Mahalaxmi Branch Mumbai way back in 1989.

The Bank is a Founder Member of SWIFT in India.

The Bank has a geographically well spread branch network in India and abroad. The Bank had 4,646 branches in India as on 31.03.2014. In the foreign countries, 25 branches and 31 representative offices keep Bank's presence felt in all time zones and important financial centers of the globe.

453 new ATMs were installed taking the total number of ATMs to 2133 as on March 31, 2013

The Bank has capital stake of 51% in Dai-Ichi Mutual Life Insurance Company recently established in India, the second largest Japanese company (6th largest in the World) company in the field of Life Insurance.

BOI provides a wide range of banking products and financial services to corporate and retail customers. The bank provides specialised services for businesses (dealing in foreign exchange), NRIs, merchant banking, etc.

It also has specialised branches that deal in asset recovery, hi-tech agricultural finance, lease finance and treasury, and small scale industries.

BOI is leading player in Retail banking and it was first nationalised bank to establish fully computerised branch and ATM facility bank in India Real estate firm DLF Ltd held 39% in DLF Pramerica before exiting, while Axa is still in a joint venture with the Bharti group, where telecom is the dominant interest.

Among other players on BoIs radar, Aegon Asset Management Co. Pvt. Ltd already has approval from market regulator, the Securities and Exchange Board of India, having obtained this for a joint venture with Religare Enterprises Ltd. However, Religare decided to acquire troubled Lotus Asset Management in 2008 and opted to go solo.

Japanese firm Dai-ichi Mutual Life Insurance Co., which already has an insurance joint venture with BoI, Aviva Plc and BBVA SA are the other names on the list. None of these three firms have regulatory clearance to launch mutual funds.

BoI started a MF business in 1990 and launched six schemes. It redeemed four of them and transferred two to Taurus Mutual Fund after offering an exit option to investors by Post Comments

BoI pioneered the introduction of the Health Code System in 1982, for evaluating/ rating its credit portfolio.

The Bank's association with the capital market goes back to 1921 when it entered into an agreement with the Bombay Stock Exchange (BSE) to manage the BSE Clearing House. It is an association that has blossomed into a joint venture with BSE, called the BOI Shareholding Ltd. to extend depository services to the stock broking community.

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 Europe, Paris in 1974.

The international business accounts for around 17.82% of Bank's total business.