Canara Bank

Canara Bank

Canara Bank was established by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, in Mangalore. The Bank has undergone various phases in its development over the last one hundred years. The 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 existence in the Indian banking industry.

The eventful journey of the Bank was strewn with many memorable milestones. Today, Canara Bank occupies a premier position in the comity of Indian banks, emerging as the largest nationalized bank in India in terms of aggregate business volume for 2006-07. With an unbroken record of profits since its inception, Canara Bank has several firsts to its credit. These include:

• Launching of Inter-City ATM Network
• Obtaining ISO Certification for a Branch
• Articulation of ‘Good Banking’ – Bank’s Citizen Charter
• Commissioning of Exclusive Mahila Banking Branch
• Launching of Exclusive Subsidiary for IT Consultancy
  

Since many years, the Bank has been improving its market position to emerge as a major ‘Financial Conglomerate’ with as many as nine subsidiaries/sponsored institutions/joint ventures in India and abroad. The Bank has a pan India presence, with over 2600 branches across all geographical segments. In view of the centrality of customer convenience, the Bank provides a wide array of alternative delivery channels, including over 1600 ATMs, covering 590 centres, over 1100 branches providing Internet and Mobile Banking (IMB) services and more than 1700 branches offering 'Anywhere Banking' services. Now more than 1500 branches of the Bank offer advanced payment and settlement system under Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT).

Canara Bank has made a distinctive mark in various corporate social responsibilities, namely, serving national priorities, promoting rural development, enhancing rural self-employment through several training institutes, spearheading financial inclusion objective etc. Promoting an inclusive growth strategy, which forms the basic plank of national policy agenda today, is in fact deeply rooted in the Bank's founding principles. "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". These insightful words of our founder continue to resonate even today in serving the society with a purpose.