Central Bank of India

Central Bank of India :

Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai which is the financial capital of India and capital city of state of Maharashtra.[1] The bank has 4700 branches, 5000 ATM's and 4 extension counters across 27 Indian states and three Union Territories. At present, Central Bank of India has overseas office at Nairobi, Hong Kong and a joint venture with Bank of India, Bank of Baroda, and the Zambian government. The Zambian government holds 40 per cent stake and each of the banks has 20 per cent. Recently it has also opened a representative office at Nairobi in Kenya.

Central bank of India is one of 19 Public Sector banks in India to get recapitalisation [2] finance from the government over the next 24 months.

Central Bank of India has approached the Reserve Bank of India (RBI) for permission to open representative offices in five more locations - Singapore, Dubai, Doha and London.[3]

As on 31 March 2015, the bank's reserves and surplus stood at ₹ 283030 million. Its total business at the end of the last fiscal amounted to ₹ 45,05,390(approx) million.