Canara Bank India, originally founded by lt. Sri. Ammembal Subba Rao Pai in 1906 as the Canara Bank Hindu Permanent Fund was transformed as a nationalized bank in 1969. Currently, Canara Bank India offers the best services in both commercial and social banking. The bank was the first to launch networked ATMs and obtain ISO Certification. Moreover, Canara Bank is in fact the first bank to be conferred FICCI award for its contribution to rural development.
Activities:
The services offered by the Canara Bank India are:
- Personal Banking – deposits, loans and advances, ancillary services, card services, consultancy services, insurance.
- Commercial Banking – cash management services, deposits, loans and advances, merchant banking
- Rural and Social banking – priority sector loan schemes, Rural Development Schemes, CBJRDT Institutes, RUDSETIS, Women Development, Social Banking Cell
- Subsidiaries – Canfinhomes, Canbank Factors, Canbank Venture Capital, Canbank Computer Services, Gilt Securities Trading, Canbank Mutual Fund, Canbank Financial Services
- RRB - Pragathi Gramin Bank, South Malabar Gramin Bank, Shreyas Grameen Bank
- Loans – small and medium enterprises loan, home loans
- Credit Cards
- International Banking
- NRI Services
- The Canara bank India also provides services like Networked ATMs, Anywhere Banking, Telebanking, Remote Access Terminals Internet & Mobile Banking.
By March 2007, number of branches recorded to be 2578, with 251 Extension Counters and 121 specialized branches.
Performance:
- The growth of the Canara Bank India is recorded as 23% during 2006-07, while the aggregate deposits grew by 22% to move up to Rs.1,42,381 crore, bank's net advances were of the order of Rs.98506 crore, signifying a 24% growth, year on year. The Bank's credit to deposit ratio improved from 68% to 69.18% between March 2006 and March 2007. Total expenditure for the year amounted to Rs.9903 crore and Canara Bank recorded a net profit of Rs.1420.81 crore in 2006-07, the highest ever. Foreign business turnover of the Bank as at March 2007 recorded 32% growth to reach Rs.1,30,083 crore.
- Canara Bank India launched new money transfer facilities like the Western Union Money Transfer, Electronic Fund Transfer. It also launched several deposit schemes like CanChamp, CanTaxsaver and Canara Centenary Deposit scheme. Canara bank india launched some new loan products like Kisan Tatkal and Kisan Mitra. For inclusive growth in rural areas the bank introduced Grameen Vikas Vahini.
Organization:
SRI. M. B. N. RAO is the Chairman & Managing Director of Canara Bank India.
Corporate office:
Canara Bank
112, J C Road
Bangalore - 560 002
Phone:
080-22221581
Website: www.canbankindia.com
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