Company Bank of India
Brand Value US$ 570
Headquarter City Mumbai
Year Formed 1906
Bank of India is a public sector financial institution, publicly traded but two-thirds owned by the Indian government. Its core offerings include commercial banking, retail banking, private banking, and asset management.
The bank operates over 4,600 branches, with almost 2,000 in rural areas, and over 4,200 ATMS. It focuses on developing its relationships with corporate and small and medium business customers as well as with wealthy retail clients.
Bank of India attempts to differentiate from the competition by emphasizing customer service, a theme communicated in ads and expressed in the tagline, “Relationship beyond banking.” It recently introduced a facility that enables customers to send money using their mobile phones.
The bank supports medical and education programs for India’s under-served populations and it funds rural infrastructure improvement. Established in Mumbai in 1906, the bank remained private until 1969, when the government nationalized any banks it didn’t already control.
With its headquarters still in Mumbai, the bank today is present in 20 countries including major financial centers, such as New York, Tokyo, Singapore, Hong Kong, London, and Paris. Bank of India is listed on the Bombay Stock Exchange.