Bank of India

Bank of India 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.

Beginning with one office in Mumbai, with a paid-up capital of Rs.50 lakh and 50 employees, the Bank has made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. In business volume, the Bank occupies a premier position among the nationalised banks.

The Bank has 4038 branches in India spread over all states/ union territories including specialized branches. These branches are controlled through 50 Zonal Offices. There are 29 branches/ offices (including five representative offices) and 3 Subsidaries and 1 joint venture abroad.

The Bank came out with its maiden public issue in 1997 and follow on Qualified Institutions Placement in February 2008. . Total number of shareholders as on 30/09/2009 is 2,15,790.

While firmly adhering to a policy of prudence and caution, the Bank has been in the forefront of introducing various innovative services and systems. Business has been conducted with the successful blend of traditional values and ethics and the most modern infrastructure. The Bank has been the first among the nationalised banks to establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at Mumbai way back in 1989. The Bank is also a Founder Member of SWIFT in India. It pioneered the introduction of the Health Code System in 1982, for evaluating/ rating its credit portfolio.

The Bank’s association with the capital market goes back to 1921 when it entered into an agreement with the Bombay Stock Exchange (BSE) to manage the BSE Clearing House. It is an association that has blossomed into a joint venture with BSE, called the BOI Shareholding Ltd. to extend depository services to the stock broking community. Bank of India 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. The Bank has sizable presence abroad, with a network of 29 branches (including five representative office) at key banking and financial centres viz. London, Newyork, Paris, Tokyo, Hong-Kong and Singapore. The international business accounts for around 17.82% of Bank’s total business.

PROJECT FINANCE AND SYNDICATION SERVICES

Bank of India is one of the leading players in the Syndication space. Our Project Finance & Syndications Group is engaged in Debt Syndication and arranges debt through Syndication/Underwriting. Over the last few years, the bank has successfully completed several Syndication & Underwriting assignments of major industrial houses in diverse sectors and has established itself in the Project Finance and Syndication business.

We have skilled and experienced team, having vast experience in carrying out TEV study and capabilities of successfully managing project finance transactions, backed by our vast network of domestic and foreign branches.

Services Offered :
We offer syndication services to corporates engaged in infrastructure development viz. road, port, power, telecom, logistics etc. as well as to those in the manufacturing sectors viz. steel, cement, sugar etc.

Syndication services can be availed for:
– Long Term Loan
– Working Capital: Fund & Non-Fund based
– Bridge Finance
– Acquisition Finance
– Refinancing

The loans may be in the form of INR, ECB and FCL on plain vanilla or structured basis.

During the calendar year 2010 and 2011, bank has achieved the top position in syndication among the public sector banks as per Bloomberg.

EXPORT FINANCE

BOI is a pioneer in Export Finance. We extend two types of Export Finance.
– Pre-Shipment Finance.
– Post-Shipment Finance.

Pre-Shipment Finance :-
– Packing Credit in Rupees.
– Packing Credit in Foreign Currency.
– Advances against incentives receivable from the Govt.
– Advances against duty-drawback.

Post-Shipment Finance :-
– Purchase and discount of Export Documents under confirmed orders.
– Negotiation / payment / acceptance of documents under L/C.
– Advances against Export Bills sent for collection.
– Export Bills rediscounted in Foreign Currency.