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 nationalised along with 13 other banks.
The Bank has over 5000 branches in India spread over all states/ union territories including specialized branches. These branches are controlled through 54 Zonal Offices and 8 NBG Offices. There are 60 branches/ offices and 5 Subsidaries and 1 joint venture abroad. BOI 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. It has overseas presence in 20 foreign countries spread over 5 continents – with 54 offices including 4 Subsidiaries, 4 Representative Offices and 1 Joint Venture, at key banking and financial centres viz., Tokyo, Singapore, Hong Kong, London, Jersey, Paris and New York.
The bank has opened its wholly owned subsidiary, BOI (New Zealand) Limited, which is a registered bank. BOINZ has a capital base of 50 million and has been rated by S & P at BB+ /Stable/B. BOI has provided unconditional parental guarantee to satisfy all the liabilities of BOINZ.
BOINZ provides a range of retail and commercial banking services including savings / current / term deposits and loan products viz personal / mortgage / home and various business and commercial loans. We also offer free and fast INR remittance facility for our savings / high value customers. Presently BOINZ has two branches located at 10, Manukau Road, Epsom, Auckland – 1023 and 31 East Tamaki Road, Papatoetoe – 2025.