Bank of India (BOI), a premier public sector bank, 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 is still majorly owned by Government of India with a 64% holding and its shares are actively traded on the Indian stock exchanges with a market cap of USD 4 bn.
BOI is India’s fifth largest bank in terms of assets and has 4292 branches in India spread over all states/ union. 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 29 international branches/ offices, at all key financial centres viz. London, New York, Paris, Tokyo, Hong-Kong and Singapore and 49 million customers’ world over. The presence of Bank of India in African continent dates back to 1953 when the first branch was opened in Mombasa, Kenya. Presently BOI has presence in 6 countries in Africa namely, Kenya, Uganda, Tanzania, Zambia, South Africa and Botswana. The international business accounts for around 27% of Bank's total business.
The bank has now opened its wholly owned subsidiary, Bank of India (Botswana) Limited (BOIBL), which is a registered bank. BOIBL has a capital base of P50 million. Bank of India has provided unconditional parental guarantee to satisfy all the liabilities of BOIBL.
BOIBL 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 corporate loans. We also offer instant INR remittance facility for our customers. The first branch of BOIBL is opened in Gaborone and is planning to expand its base in Botswana.