Bank of India Limited Company Profile: Products,Promoters and Clients

Bank of India Limited 

Bank of India was nationalized in 1969. The Bank has over 5,148 branches in India spread over all states/ union territories including specialized branches. Presently the Bank has an overseas presence in 15 foreign countries spread over 5 continents – with 47 branches/offices including 4 Subsidiaries, 1 Representative Office, and 1 Joint Venture, at key banking and financial centers viz., Tokyo, Singapore, Hong Kong, London, Paris, New York, DIFC Dubai and International Banking Unit (IBU) at GIFT City Gandhinagar.

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Q1. What are the Product and service offerings of the Bank of India?

The company offers a wide range of services across various sectors. In the personal products segment, it provides a diverse selection of loans, including housing loans, student loans, and other options. 

For corporate clients, it offers MSME loans, project financing, infrastructure financing, lines of credit, and related services. Additionally, the company tailors multiple agricultural loan schemes to meet farmers' needs. Moreover, it provides NRI services, including deposits, money transfer, and remittance options.

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Q2. Who are the Promoters of the Bank of India?

Government of India holds a majority of 73.4% of the stake in the company.

Shri Rajneesh Karnatak assumed the part of Managing Director & Chief Executive Officer of Bank of India on April 29, 2023. With over 30 times of banking experience, including leadership places at Punjab National Bank and Union Bank of India, Karnatak brings moxie in credit appraisal, design backing, and Risk Management. 

He holds a postgraduate degree in Commerce(M.Com) and is a pukka Associate from the Indian Institute of Bankers( CAIIB). Karnatak has served on colorful boards and panels, contributing significantly to the banking sector's development.

Q3. Who are the Clients of the Bank of India?

For FY24 Company’s CASA Ratio stands at 43% which indicates a healthy split between retail and corporate accounts. Home Loans make up 53% of Retail Loan book 15% comes up from Vehicle Loans. Bank of India has 5,170 Branches across the nation. 

Also Read: Bank of Maharashtra Limited Company Profile: Products, Promoters and Clients