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. Bank of India (BOI) is a premier public sector bank. Government of India holds 68.01% of the shares of the bank as on 31.03.2016.
In 1946 when a new era of freedom and prosperity was dawning India, pioneers of Bank of India took a big leap in International financial arena by opening a first ever Indian Bank branch beyond Territories. The city of London was aptly chosen for setting up the bank’s first international branch, a year before India’s independence. This momentous decision was primarily with the foresight of garnering propelled business opportunities post World –War II based on the strong Indo-British ties in the economics, political and cultural spheres. With the flow of immigrants from East African countries, the prospect of good business growth increased manifold and the branch network in UK was increased to 7 over a period of time.
BOI Manchester branch was opened on 31st May 1962, Birmingham on 31st May 1965, Leicester Branch on 19th December, 1968. Wembley Branch was opened on 7th April, 1972 followed by East Ham Branch on 6th February, 1978 and finally the Bank expanded to the Scottish Highlands and established a branch in Glasgow on 13th June, 2008. Meanwhile, having established in foothold in UK, the bank imprinted its presence in continental Europe by opening a branch in Paris in 1974, Jersey (Channel Islands) in 1978 and Antwerp, the world‘s diamond centre, in 2007. “We have recently merged our Eastham and Manchester branches with nearby Wembley and Birmingham branches respectively.”
Bank of India, UK operations is authorised by Prudential Regulation Authority (PRA) and is regulated by PRA & Financial Conduct Authority (FCA). India related business has an immense commercial importance and Bank of India has established ‘India Desk’ in June 1997 to serve exclusively India related business. Similarly Bank has opened a Specialised NRI Desk at Wembley Branch to help Non Resident Indians in opening of NRI accounts in India and other NRI related services. Bank of India is a member of the Financial Services Compensation Scheme established under the Financial Services and Market Act 2000. The Financial Services Compensation Scheme protects deposits held with our UK branches. Payments under this scheme are limited to £85,000 of your total deposits with us in the UK. In practice, this means that each eligible depositor will be compensated up to a maximum of £85,000 of their total deposits.
The UK operations concentrate on traditional banking activities such as deposit taking, corporate lending, syndications, proprietary investments, mortgages, money and forex markets and trade finance. The activities of BOI UK are governed by the corporate policies of BOI from its group headquarters in India. Group headquarters issue policy guidelines to overseas branches including BOI UK, incorporating strategies for business focus every year. BOI UK then formulates its action plans in alignment with the corporate goals and strategies defined by BOI headquarters. The following activities have been identified presently for profitable development of BOI UK business:
- Customer Deposits
- Syndicated loans
- Loans to local and overseas corporates
- Mortgages
- Proprietary Investments
- Retail Credits
- Trade Finance including Risk Participation Products
- Forex operations
- Remittance services
BOI UK is headed by a General Manager, designated as the Chief Executive, European Branches and assisted by a team of professionals based at CE office in London.
Chief Executive European Branches
| UK Branches | |
|---|---|
| Antwerp Branch | Schupstraat 18-20, 2018 Antwerp Ph : 003232018880 Fax : 003232318387 Email: bankofindiaantwerp[at]skynet[dot]be |
| Jersey Branch | The Jersey branch has now been closed w.e.f 18.10.2018. Should you wish to discuss any matter relating to the Jersey branch, please contact the Senior Officer, Administration, Bank of India, CE office on 020 7965 2417; email id : adminceo[at]bankofindia[dot]uk[dot]com. Manager, Administration, Bank of India, London Branch, 63, Queen Victoria Street London EC4N4UA on 020 7965 2477 email id : manager[dot]remittances[at]bankofindia[dot]uk[dot]com |
| Paris Branch | 4 rue Halévy 75009 Paris Ph : 0033(0) 142665004 Fax : 0033(0) 142665004 Email: Boi[dot]paris[at]wanadoo[dot]fr |
| London Branch | 4th floor 63 Queen Victoria Street, London EC4N 4UA Tel: 020 7965 2500 Fax: 020 7965 2556 Email: londonbranch[at]bankofindia[dot]uk[dot]com |
| Birmingham Branch | 182 Soho Road Handsworth Birmingham B21 9LP Ph : 0121 5079940 Fax : 0121 5234684 Email: birmingham[at]bankofindia[dot]uk[dot]com |
| Eastham Branch | The Eastham branch has now been closed w.e.f 18.09.2018. Should you wish to discuss any matter relating to the Eastham branch, please contact our Wembley branch, Bank of India, on 020 30190 551/ 020 30190556 email id : wembley[at]bankofindia[dot]uk[dot]com or boi[dot]WEM[at]bankofindia[dot]co[dot]in |
| Leicester Branch | 105-107 Belgrave Road Leicester LE4 6AS Ph : 0116 2668464 Fax : 0116 266 1969 Email: leicester[at]bankofindia[dot]uk[dot]com |
| Wembley Branch | 714-716 Kenton Road, Harrow, Middlesex, HA3 9 QX (Near V.B & Sons, Kingbury Circle) Ph: 020 30190550 Fax : 0208 9031405 Email: wembley[at]bankofindia[dot]uk[dot]com or Boi[dot]wem[at]bankofindia[dot]co[dot]in |
| Manchester Branch | The Manchester branch has now been closed w.e.f 18.09.2018. Should you wish to discuss any matter relating to the Manchester branch, please contact our Birmingham branch, Bank of India, on 0121 5079946/0121 5079940 email id : Boi[dot]BIRMINGHAM[at]bankofindia[dot]co[dot]in or boibirmingham[at]btconnect[dot]com |
| Glasgow Branch | Bank of India, Glasgow Branch 1, Somerset Place 169 Elderslie Street Glasgow G3 7JT Scotland Tel : 0141 3328129, 0141 3526989 Fax : 0141 3320721 Email : glasgow[at]bankofindia[dot]uk[dot]com |
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