What is the full form of boi? Bank of India

Bank of India

Type Nationalised Bank
Industry Banking
Financial services
Founded 7 September 1906; 114 years ago
Headquarters Mumbai, India
Number of locations
  • 5,108 Branches
  • 5,551 ATMs

 (March 2021)

  • Consumer banking
  • Corporate banking
  • Finance and insurance
  • Investment banking
  • Mortgage loans, private banking
  • Private equity
  • Savings
  • Securities
  • Asset management
  • Wealth management
Owner Government of India (90.34%) (2021)
Number of employees
51,459 (March 2021)
Parent Ministry of Finance, Government of India
Website www.bankofindia.co.in

BOI Full Form

boi full form What is the full form of boi?

Bank of India
Bank of India

The full form of BOI is Bank of India. Bank of India (BOI) is an Indian nationalized bank. It is owned by the Ministry of Finance, Government of India, headquartered at Bandra Kurla Complex, Mumbai

 Established in 1906, it has been owned by the government since nationalization in 1969. BoI is a founding member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates the provision of cost-effective financial processing and communication services.

As of 31 March 2021, Bank of India has a total business of ₹1,037,549 crore (US$150 billion), with 5,108 branches and 5,551 ATMs worldwide (including 24 overseas branches).

boi full form bank of india history

Bank of India was established on 7 September 1906 by a group of eminent businessmen from Mumbai, Maharashtra, India. 

The bank was privately owned and controlled until 19 July 1969, when it was nationalized along with 13 other banks.

Starting with an office in Mumbai with a paid-up capital of ₹5 million (US$70,000) and 50 employees, the bank has grown rapidly over the years and has grown into a powerful institution with a strong national presence and large international operations. as has evolved. .

 In terms of business volume, the bank occupies a leading position among the nationalized banks.

The Bank has more than 5,084 branches in India which are spread across all the States and Union Territories including specialized branches. These branches are controlled through 54 zonal offices. There are 60 branches abroad, 5 subsidiaries and 1 joint venture.

The bank came out with its first public issue in 1997 and followed up on qualified institutions placement in February 2008.

The principal promoter of the Bank of India was Sir Sassoon J. David (1849–1926). He was a member of the Sassoon family, which in turn was part of a Bombay community of Baghdadi Jews notable for their history of social service. 

Sir David was a prudent banker and remained the chief executive of the bank from its inception in 1906 until his death in 1926.

BoI’s international expansion began in 1946 when Bank BoI opened a branch in London, the first Indian bank to do so. This was the first overseas branch of any Indian bank after World War II.

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