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Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from Mumbai. The Bank was under 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 50 Lakh 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 4963 branches in India spread over all states/ union territories including 306 specialised branches (BOTF). These branches are controlled through 54 zonal offices and 8 National Banking Groups. There are 61 branches/ offices (including representative offices, Subsidiaries and Joint Venture) abroad. The Bank came out with its maiden public issue in 1997 and follow on Qualified Institutions Placement in February 2008. Total number of shareholders as on 30/09/2015 is 279,169.
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, in London, in 1946, and also the first to open a branch in Europe, Paris in 1974. The Bank has sizable presence abroad at key banking and financial centres viz. London, New York, Paris, Tokyo, Hong Kong and Singapore. The international business accounts for around 27% of Bank's total business.
BANK OF INDIA – HO CHI MINH CITY BRANCH
Bank of India has been issued operating License on 31st July 2015 to open the first and the only Indian Bank to open its Branch in Ho Chi Minh City, Vietnam.