About
Central Bank of India was established on 21 December 1911. The public sector bank is one of the largest and oldest commercial banks in India. The Mumbai-based bank is one of the 12 public sector banks that were recapitalised in 2009.
Listing and Revenue
| Revenue | ₹27,199 crore |
| Operating Income | ₹4,344 crore |
| Net Income | ₹-1,121 crore |
| Total Assets | ₹3,56,435 crore |
Products and Services
Central Bank of India offers a large range of products and services including credit card, PPF, FD, RD, e-Locker, virtual credit card, and prompt shopping among others.
History
The Central Bank of India started operating on 21 December 1911. It was established by Sir Sorabji Pochkhanawala with Sir Pherozeshah Mehta as its Chairman. The bank claims to be India's first commercial Indian bank that was completely owned and managed by Indians.
It established a branch in Hyderabad in 1918 and a branch in nearby Secunderabad was launched in 1925.
Acquisition
Central Bank acquired the Tata Industrial Bank in 1923 due to the failure of the Alliance Bank of Simla. Central Bank of India played a key role in the establishment of Central Exchange Bank of India that started its operations in London in 1936 but it was later acquired by Barclays Bank in 1938.
Awards and Recognition
Central Bank of India won the First Prize for excellent implementation of Official Language Policy of Government of India in Mumbai Metro for 2016 - 2017.