Bank of India (BoI) – Company Profile

Bank of India is a Mumbai based commercial bank now owned by Government of India which grew to the 4th position in the PSU Banks after a race of 106 years. Bank of India is having around 4157 branches and about 1679 ATMs in India. Bank of India is operating around 29 branches abroad. Which is having an Operating income Of Rs 5384.23 Crore, and a net income of 2488.71 crore and have an asset of 364556.48 crore.

History

At first, Banks in India was owned by Europeans and was purely based on their communities, in order to the Indian Public interest Bank of India started operations at 01 November 1906. It was the first Indian Bank to start a branch in London at 1946 Later it opened branches in Tokyo and Osaka, Singapore, Kenya, Uganda, Aden, Tanganyika, Hong Kong, Nigeria. In the year 1967 Administration of Tanzania municipalized Bank of India’s Task together with some other foreign banks and after two years Government of India and Yemen also did the same. For cost effective financial process a group of Banks Including BOI founded SWIFT (Society for Worldwide Inter Bank Financial Telecommunication).

Key People

Sir Sassoon J David was the main promoter of Bank of India who belongs to Baghdadi Jew Community and was the Chief Executive and Director Board member of the Bank from its initial stage and decorated the chair until his death in 1926. The board members of the Bank were Sir Cowasjee Jahangir, Sir Frederick Leigh Croft, Ratanjee Dadabhoy Tata, Ghordhandas Khattau, Lalubhai Samaldas, Khetsety Khiasey, Ramnarain Hurnundrai, Jenarrayan Hindoomull Dani, Noordin Ebraham Noordin.

Facilities

It offers working capital finance, guarantees, letters of credits, remittance facilities, supplier’s credit, trade information reports, industry status reports etc. Almost all the branches of the Bank of India has computerized and planning to finish it within two years. The bank contributed in India’s agriculture, Merchant Banking, Mutual Funds, Housing Finance, Depository through it sister concerns. Banks branches spreads all over India and few has been facilitated with ATMs. It has also taken care to facilitate itself with meet all the Financial and non financial needs of the customers. Apart from this there are some other services, they are Depository Service and Gold Coin which is a new service. They provide Insurance which covers travel, health, education, Mutual funds, Remittance, Deposit Locker, Star cash Management Services.

Bank of India provides normal credit and debit cards and valued VISA and MASTER cards for their customers round the globe such as Bank of India Master Card, Bank of India VISA cards, Gift Cards, Platinum Debit cards for their premium customers and VISA electron.  Deposit schemes of the Bank Of India are Jai Jawan Salary plus Account which is newly introduced Star Benefit C.D plus accounts, Star Diamond saving accounts, Star power salary account, NRE Accounts, Foreign Currency Non residency Account etc

Types Of Loans provided by the bank are Star Autofin, Star Education Loan, Star Holiday Loan, Star Home Loan, Star Mahila Gold loan Scheme, Star Personal Loan etc.  All these facilities will remind you that the tagline of the bank is really worthy “Relationship beyond Banking”. Their products are Commercial Banking, Retail Banking, Private Banking, Mortgages, Asset Management and Credit Cards.

Careers

Appointments are based on the IBPS ranking and truly individual talents, you can apply online through the site www.bankofindia.com/career