Bank of India completes nine years in New Zealand

Bank of India NZ, one of the premier nationalised banks of India, has completed nine glorious years in New Zealand.

A small celebratory event to commemorate the anniversary was held on Thursday, November 12, at the bank’s head office in Auckland, with High Commissioner of India Muktesh Pardeshi as the Chief Guest.

The other dignitaries gracing the occasion were Hon Consul of India Bhav Dhillion, Second Secretary Indian High Commission Paramjeet Singh, former National MP Kanwaljeet Singh Bakshi, who was joined by Bank’s Director Sameer Handa and Managing Director Omkar Nath Thakur and staff and key customers of the bank.

Welcoming the guests on occasion Sameer Handa revisited Bank of India’s glorious history right from its inception in 1906 and subsequent rapid progress into a mighty institution with a strong national presence and sizable international operations, offering more incentives to everyone for why they should be banking with the prestigious bank.

Similar views were echoed by High Commissioner Muktesh Pardeshi who congratulated the bank’s leadership and the staff for delivering value to the customers which were reflected in the bank’s gradual growth into multiple branches in New Zealand in the last nine years.

Speaking on occasion, Mr Dhillon congratulated the bank’s leadership team for having magnificent premises located at a very strategic business location (Manukau Road, Epsom), showcasing the brand image of India in a glittering manner.

Former National MP Kanwaljeet Singh Bakshi who was present at the inauguration of the head office (2011) and other two branches in Papatoetoe and Hamilton revisited memory lane sharing memories on how then Finance Minister Sir Bill English was present at the inauguration ceremony.

Lauding the bank’s steady progress in the last years, most of the guest speakers also encouraged bank’s leadership team to shift focus and expand operations beyond the traditional areas of money repatriation into the full range of retail banking products including savings and current accounts, cards, term and call deposits, mortgages and international funds transfers and enter into mainstream banking space.

From the archives of the Indian Weekender

The Indian Weekender had covered the inaugural ceremony in October 2011 reporting about the second foray of an Indian nationalised Bank (after Bank of Baroda) into New Zealand.

Bank of Indian New Zealand has a capital base of $ 50 Mn and rated by S & P at BBB- (Stable outlook), the Indian Weekender had then reported.

Notably, Bank of India was the 20th international bank after Bank of Baroda, which was 19th international bank to be approved by Reserve Bank of New Zealand to operate in the country.