Bank of India reports 12% rise in global deposits during Q3FY26 [Banking]
AI Summary1 min read
TL;DR
Bank of India reported a 12% increase in global deposits for Q3FY26, highlighting its growth from a private bank founded in 1906 to a major nationalized institution with strong international operations.
Tags
Bank - PublicBanking
Bank of India (BoI) was founded on September 07, 1906 by a group of eminent businessmen from Mumbai. The bank was under private ownership and control till July 1969 when it was nationalized 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 nationalized banks.