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Bank of India Review

Bank of India was stated with 50 employees and Rs.50lakhs as capital in the year 1906 by some Mumbai’s eminent persons. The bank was nationalized in the 1969 along with 13 other banks. The bank occupies the status of one of the most efficient premier banks in the country. The Bank of India provides baking and financial services to various sectors.
The Bank has spread its wings across the country and overseas with 2884 branches including 155 specialized branches .The banks vision is to provide extraordinary services to its customers by training its employees on new technologies available in the market. The company’s mission is to emerge as the largest bank in India and maintain the position.

Bank of India offers a wide variety of services to its customers like online baking which includes bill payment, online request for the issue of cheque books and demand drafts, online transfer of funds and many other services for the convenience of the customers. The customers can operate and manage their accounts from home and can save their precious time.

Bank of India has announces its Q2 results on 30th September, 2008.The Bank has proved again that it is one of the safest and largest banks of India.Net profit for the quarter shoots up from 425 crores to 763 crores which is almost a 80% increase when compared to the same quarter last year. Net operating profit was up by nearly 44.5%. Core operating profit was also up by nearly 71.1%. These figures clearly show that the bank was not affected by the global financial crisis. Also the bank was given to awards this year one as the ‘Best Bank Award’ in the east zone and the other as ‘The Best PSU Bank’ by NDTV.

So, the bank is financially safe and sound with good profits, good capital and positive liquidity position. The investors are requested to buy the stocks of Bank of India as the present price is far away from the target price and is expected to grow sharply.

Bank of India is providing a training program on debt recovery through Bank of India staff training college which is affiliated by Indian institute of Banking and finance. The bank has succeeded in offering this service to the employees and is conducting the same program from 17-11-08 to 30-11-08. So, interested candidates can contact the principal of the college.