HISTORY
A good bank is not only the financial heart of the community, but also one with an obligation of helping in every possible manner to improve the economic conditions of the common people
Our Beloved Founder
Late Sri Ammembal Subbarao Pai
Founding Principles
- To remove Superstition and ignorance.
- To spread education among all to sub-serve the first principle.
- To inculcate the habit of thrift and savings.
- To transform the financial institution not only as the financial heart of the community but the social heart as well.
- To assist the needy.
- To work with sense of service and dedication.
- To develop a concern for fellow human being and sensitivity to the surroundings with a view to make changes/remove hardships and sufferings.
Significant Milestones
| 1st July 1906 | Canara Hindu Permanent Fund Ltd. formally registered with a capital of 2000 shares of Rs. 50/- each, with 4 employees. |
| 1910 | Canara Hindu Permanent Fund renamed as Canara Bank Limited |
| 1969 | 14 major banks in the country, including Canara Bank, nationalized on July 19 |
| 1976 | 1000th branch inaugurated |
| 1983 | Overseas branch at London inaugurated, Cancard (the Bank’s credit card) launched |
| 1985 | Takeover of Lakshmi Commercial Bank Limited and Commissioning of Indo Hong Kong International Finance Limited (now a full fledged branch) |
| 1987 | Canbank Mutual Fund & Canfin Homes launched |
| 1989 | Canbank Venture Capital Fund started |
| 1989-90 | Canbank Factors Limited, the factoring subsidiary launched |
| 1992-93 | Became the first Bank to articulate and adopt the directive principles of “Good Banking”. |
| 1995-96 | Became the first Bank to be conferred with ISO 9002 certification for one of its branches in Bangalore |
| 2001-02 | Opened a 'Mahila Banking Branch', first of its kind at Bangalore, for catering exclusively to the financial requirements of women clientele. |
| 2002-03 | Maiden IPO of the Bank |
| 2003-04 | Launched Internet Banking Services |
| 2004-05 | 100% Branch computerization |
| 2005-06 | Entered 100th Year in Banking Service. Launched Core Banking Solution in select branches. Number One Position in Aggregate Business among Nationalized Banks. |
| 2006-07 | Retained Number One Position in Aggregate Business among Nationalized Banks. Signed MoUs for Commissioning Two JVs in Insurance and Asset Management with international majors viz., HSBC (Asia Pacific) Holding and Robeco Groep N.V respectively. |
| 2007-08 | Launching of New Brand Identity. Incorporation of Insurance and Asset Management JVs. Launching of 'Online Trading' portal. Launching of a ‘Call Centre’. Switchover to Basel II New Capital Adequacy Framework. |
| 2008-09 | The Bank crossed the coveted Rs. 3 lakh crore in aggregate business. The Bank’s 3rd foreign branch at Shanghai commissioned. |
| 2009-10 | The Bank’s aggregate business crossed Rs. 4 lakh crore mark. Net profit of the Bank crossed Rs. 3000 crore. The Bank’s branch network crossed the 3000 mark. |
| 2010-11 | The Bank’s aggregate business crossed Rs. 5 lakh crore mark. Net profit of the Bank crossed Rs. 4000 crore. 100% coverage under Core Banking Solution. The Bank’s 4th foreign branch at Leicester and a Representative office at Sharjah, UAE, opened. The Bank raised Rs. 1993 crore under QIP. Govt. holding reduced to 67.72% post QIP. |
| 2011-12 | Total number of branches reached 3600. The Bank’s 5th foreign branch at Manama, Bahrain opened. |
| 2012-13 | Highest Dividend of 130% paid for the year |
| 2013-14 | 1027 branches and 2786 ATMs opened during the year. Global business crossed the Rs.7 lakh crore milestone. Switchover to Basel III New Capital Adequacy Framework. Branch Network and Atms increased to 4755 branches and 6312 ATMs. |
| 2014-15 | Global Business of the Bank crossed Rs.8 lakh crore. |
| 2015-16 | The Bank’s 8th foreign branch at DIFC (Dubai) opened. |
| 2016-17 | Branch network crossed 6000 milestones.Total number branches rose to 6083.Canara Bank (Tanzania) Ltd., a foreign subsidiary, opened. |
| 2017-18 | Global Business of the Bank crossed Rs.9 lakh crore. |
| 2018-19 | Global Business of the Bank crossed 10 lakh crore, Bank issued 2 core new equity shares to employees under Canara Bank Employee Share Purchase scheme (CanBank-ESPS). |
| 2019-20 | Domestic Business of Canara Bank crossed Rs. 10 Lakh Crore. |
| 1st Apr’20 | Amalgamation of erstwhile Syndicate Bank with Canara Bank, thus creating the country’s fourth largest Bank with a strong network of 10391 domestic branches, 13423 ATMs. |
| 2020-21 | Domestic Business of Canara Bank crossed Rs. 16 Lakh Crore and Bank has recorded a Net Profit of Rs. 2558 Crore in FY21. |
A BRIEF PROFILE OF THE BANK
Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through the various phases of its growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties was characterized by business diversification for the Bank. In June 2006, the Bank completed a century of operation in the Indian banking industry.
VISION
To emerge as the Best Bank to Bank with by pursuing industry benchmarks in profitability, operational efficiency, asset quality, risk management and digital innovation.
MISSION
To provide State-of-the-Art Banking solutions, leveraging technology, aiding Ease of Doing business and enhancing value for all stakeholders through inclusive growth.
