BOI Full Form

What is the full form of BOI?

The full form of BOI is Bank of India. BOI is a commercial bank with its head office is located in Mumbai’s Bandra Kurla Complex Established in 1906, after nationalization in 1969, it’s been government-owned. As of 31 March 2019, BOI has 5,316 branches, with 56 branches outside India, comprising five subsidiaries, five representative offices, and one joint – ventures.

BoI is a founder partner of the Society for Interbank Financial Telecommunications Worldwide (SWIFT), which promotes the delivery of cost-effective money processing and transmission facilities.

A brief history of BOI

  • On 7 September 1906, the BOI was created by a group of prominent businessmen from Mumbai, Maharashtra, India.
  • Until 19 July 1969, when it was nationalized along with Thirteen other banks, the bank was under private control and ownership.
  • The Bank has expanded steadily over the years, beginning with one office in Mumbai with a paid-up capital of approximately five million & fifty employees, and has flourished into a powerful institution with a big national existence and substantial overseas operations.
  • The Bank holds a prime role among the banking institutions in terms of market size.
  • The bank has more than 5,100 offices in India, including specialized branches, distributed across all states/union territories.
  • These divisions are governed by fifty-four zonal offices. There are sixty offices, five branches and one international joint venture.
  • The Bank’s first public problem came out in 1997 and followed the positioning of qualified institutions in February 2008.

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