Industry Financial Services Type of business Private | Website Homepage Founded 1953 | |
Key people Alok MisraGroup ChairmanR.K. VermaManaging Director and CEO Products Loans, Checking, Savings, Investments, Debit Cards Total assets US$541 million (KES:51 billion (2014) | ||
Bank of India (Kenya) Limited (BOIK), commonly referred to as Bank of India (Kenya), is a commercial bank in Kenya, the largest economy in the East African Community. It is one of the commercial banks licensed by the Central Bank of Kenya, the national banking regulator.
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Overview
As of May 2015, BOIK is a medium-sized financial services provider in Kenya. Its total assets were valued at approximately US$541 million (KES:51 billion).
History
BOIK received its banking license on 6 May 1953. Its first office opened in Mombasa, the same year. In 1954 it opened its first branch in Nairobi, in the Heritage Building. It plans to increase its footprint to eight branches before 1 July 2015.
Bank of India Group
By virtue of its shareholding, BOIK is a member of the Bank of India Group (BOIG), a financial services conglomerate whose shares are listed on the Bombay Stock Exchange. The stock of BOIG is 65.9 percent owned by the Government of India and is one of the five largest banks in India, with over 4,000 branches (30 of them outside India) and over 1,650 automated teller machines. The member companies of BOIG include, but are not limited to, the following:
Branches
BOIK maintains branches at the following locations:
- Kenyatta Avenue Branch - Bank of India Building, Kenyatta Avenue, Nairobi (Main Branch)
- Industrial Area Branch - Unit 1D, Block D, Sameer Industrial Park, Nairobi-Mombasa Road, Nairobi
- Mombasa Branch - Bank of India Building, Nkrumah Road, Mombasa
- Westlands Branch - Progressive Park Towers, Westlands, Nairobi
- Kisumu Branch - First Floor, Tuffoam Plaza, Jomo Kenyatta Highway, Kisumu
- Eldoret Branch - Tarita Centre, Ronald Ngala Street, Eldoret
- Nakuru Branch - Nakuru
- Thika Branch - Thika