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Bharat Overseas Bank

Established in 1973, Bharat Overseas Bank was a leading private sector bank in India. In 2007, Indian Overseas Bank, a public sector banking major, acquired the bank. All the properties, manpower and deposits of Bharat Overseas Bank were taken over by Indian Overseas Bank.

About Bharat Overseas Bank

Bharat Overseas Bank was founded in 1973. It was incorporated in an endeavor to acquire the Bangkok branch of the Indian Overseas Bank. Bharat Overseas Bank Ltd. (BOBL) is one of the privileged banks that were allowed by the Reserve Bank of India to have a branch away from India. It was the only bank to represent India in Thailand. It is currently owned by 7 banks and the names of the banks are given below:

  1. Bank of Rajasthan
  2. Indian Overseas Bank
  3. Karur Vyasa Bank
  4. Vyasa Bank
  5. South Indian Bank
  6. Federal Bank
  7. Karnataka Bank

Thus, Bharat Overseas Bank is named “A bank owned by 7 banks”. The bank has been catering to the needs of the Indian business society in Bangkok for more than 25 years. The bank has 75 branches in all. The chairman and chief executive officer (CEO) of the bank is Mr. G. Krishna Murthy.

From the time of its inception, BOBL has generated a name for itself, which is “Customer’s Bank”.

Shareholding Pattern of Bharat Overseas Bank Ltd.

Given below is the shareholding pattern of Bharat Overseas Bank Ltd.:

Name of the Bank Share (In Percentage)
Indian Overseas Bank 30.00
The Vysya Bank Ltd. 14.66
The Bank of Rajasthan Ltd. 16.00
The Karur Vysya Bank Ltd. 10.00
The Federal Bank Ltd. 10.67
The South Indian Bank Ltd. 10.00
Karnataka Bank Ltd. 8.67
Total 100.00







Bharat Overseas Bank products and services

Bharat Overseas Bank offers a comprehensive range of products and services to its customers which include the following:

  1. Personal banking
  2. Commercial banking
  3. Trader’s special
  4. Corporate banking
  5. International business
  6. NRI Banking

Corporate banking services offered by BOBL

The bank manages different types of corporate accounts which include multinational corporations. As the sole private sector banking institution with an away branch in Thailand for more than 25 years, BOBL has experience in managing corporate accounts. As a result of the globalization, various Indian companies are becoming international. The bank is searching for opportunities to serve those companies. Right now, the bank has a good client base comprising clients from various industries such as pharmaceuticals, textile, leather, steel and software.

The bank offers a broad variety of credit facilities to institutional clients which include the following:

  1. Loans with long, medium and short terms with affordable interest rates and terms
  2. Financing for export/import deals comprising Forex deals
  3. Working capital finance for receivables and stocks
  4. Managing high volume corporate accounts
  5. Account collection services on its own or as a part of a banking group
  6. Group credit facilities to staffs of corporate clients

NRI Banking Services offered by BOBL

Given below are the different types of services that BOBL offers to the NRIs (Non-resident Indians):

1) Reinvestment deposits (cumulative interest)

2) Term deposits (simple interest)

3) Non Repatriable Types of Accounts

  1. Non Resident Ordinary Account (NRO)
  2. Non Resident Non Repatriable Account (NRNR) - Rupee Deposit Scheme

4) Repatriable Type of Accounts

  1. Non-Resident External Savings Account (NRESB)
  2. Non-Resident External Cumulative Deposits Account (NREURDP)
  3. Non-Resident External Term Deposits (NRETD)

5) Foreign Currency Accounts

  1. Foreign Currency Cumulative Deposits (FCNRURDP)
  2. Foreign Currency Term Deposits (FCNRTD)
  3. Resident Foreign Currency Account (RFC)

Bharat Overseas Bank Contact Details

Address:
Bharat Overseas Bank Ltd.,
Head Office: Habeeb Towers,
196 (Old # 756), Anna Salai,
Chennai - 600 002, India

http://www.bharatoverseasbank.com/



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