Bank of India (BOI) is one of India's leading banks, with about 2500 branches in India and some 20 branches and representative offices abroad.
History
BoI - Timelines
- 1906: Founded with Head Office in Mumbai.
- 1946: BoI opened a branch in London, the first Indian bank to do so. This was also the first post-WWII overseas branch of any Indian bank.
- 1950: BoI opened branches in Tokyo and Osaka.
- 1951: BoI opened a branch in Singapore.
- 1953: BoI opened a branch in Kenya and another in Uganda.
- 1953 or 54: BoI opened a branch in Aden.
- 1955: BoI established operations in Tanganyika.
- 1960: BoI opened a branch in Hong Kong.
- 1962: BoI opened a branch in Nigeria.
- 1967: The Government of Tanzania nationalised BoI's operations in Tanzania and folded them into the government-owned National Commercial Bank, together with those of Bank of Baroda and several other foreign banks.
- 1969: The Government of India nationalised 14 top banks, including Bank of India. In the same year, the People's Democratic Republic of Yemen nationalised BoI's branch in Aden, and the Nigerian and Ugandan governments forced BoI to incorporate its branches in those countries.
- 1970: National Bank of Southern Yemen incorporated BoI's branches in Yemen. BoI was the only Indian bank in the country.
- 1972: BoI sold its Uganda operation to Bank of Baroda.
- 1973: BoI opened a rep in Jakarta.
- 1974: BoI opened a branch in Paris. This was the first branch of an Indian bank in Europe.
- 1976: The Nigerian government acquired 60% of the shares in Bank of India (Nigeria).
- 1978: BoI opened a branch in New York.
- 1970s: BoI opened an agency in San Francisco.
- 1980: Bank of India (Nigeria) Ltd, changed its name to Allied Bank of Nigeria.
- 1986: BoI acquired Parur Central Bank in India in a rescue.
- 1987: BoI took over the three UK branches of Central Bank of India (CBI). CBI had been caught up in the Sethia fraud and default and the Reserve Bank of India required it to transfer its branches.
- 1998: Allied Bank of Nigeria may have gone bankrupt, but BoI site still lists it as an associated bank in 2001.
- 2003: BoI opened a representative office in Shenzen.
BoI - CMD since Nationalisation
- 1969-1970: T D Kansara
- 1970-1975: J N Saxsena
- 1975-1977: C P Sah
- 1977-1980: H C Sarkar
- 1981-1984: N Vaghul
- 1984-1986: T. Tiwari
- 1987-1991: R. Srinivasan
- 1992-1995: G. S. Dahotre
- 1995-1997: G. Kathuria
- 1997-1998: M G Bhire
- 1998-2000: S Rajagopal
- 2000-2003: K V Krishanamurthy
- 2003-2005: M Venugopal
- 2005- : M. Balachandran
Business Performance
See also
External link
