Bank of India Indonesia, formerly named Bank Swadesi started as a rural bank in 1968 in Surabaya. Its ownership changed in 1984 and transferred in into a commercial bank on 2nd September 1989 named Bank Swadesi. In 2007, Bank of India which acquired Bank Swadesi is one of the oldest Bank in India, established in 1906 its major share holder is the Government of India.The Bank of India Indonesia provides both personal and business banking services. In terms of funding and lending options, their personal banking service includes working capital financing, investment loans, export and import financing, and bank guarantees for letters of credit.