Chapter-3 Canara Bank Profile Origin of Canara Bank

CHAPTER-3
CANARA BANK PROFILE

Origin of Canara Bank
Canara bank was founded as Canara Bank Hindu Permanent Fund in 1906
by late 'Shri Ammembal subba RaolPai, a philanthropist. This small seed
blossorned into a limited company as Canara Bank Ltd in l9l0. Canara Bank is
one of premier in the country, accredited with umpteen distinctions. The present
stature of the bank-is due to its strong fundamentals and quality customer
orientations. Profit making since inception, the bank today symbolize a perfect
blend of commercial and social / developmental banking; 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 diversifiation for the
Batik. In June 2006, the Bank comp1ted a century of operation in the Indian
banking industry. The eventful journey of the Bank has been characterized by
several memorable milestones. Today, Canaral Bank occupies a premier position in
the comity of Indian banks. With an
unbroken record of profits since its
inception, Canara Bank has several firsts to it's credit. These include:
Launching of Inter-City ATM Network
Obtaining ISO Certification for a Branch
Articulation of Good Banking -Banks Citizen Charter
Commissioning of Exclusive Mahila Banking Branch
Launching of Excusive Subsidiary for IT Consultancy
Issuing credit card for farmers
. Providing Agricultural Consultancy Services
Over the years, the Bank has been scaling up its market position to emerge
as a major Financial Conglomerate with as many as nine subsidiaries sponsored /
institutions /joint ventures in India and abroad. As at Decmber 2013, the Bank has
further expanded its domestic presence, with 3700 branches spread across all
geographical segments. Keeping customer convenience at the forefront, the Bank
provides a wide array of alternative delivery channels that include over 3500
ATMs- one of the highest among nationalized banks- covering 732 centers, 2681
branches providing Internet and Mobile Banking (IMB) eservices, advanced
payment and settlement system, all branches of the Bank have been to offer Real
Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT)
facilities.
Not just in commercial banking, 'the Bank has also carved a distinctive
mark; in various corporate socials, responsibilities, namely, serving national
priorities, promoting rural development, enhancing rural self-employment ,
through several training institutes and spearheading financial inclusion objective.
Promoting an inclusive growth strategy, Which has been formed as the basic plank
of national policy agenda today, 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. The
story of Canara Bank in its first century was due, among others, to the continued
patronage of its valued customers, stakeholders, committed staff
uncanny
leadership ability demonstrated by its leaders at the helm of affairs. We strongly.
believe that the next century is going to be equally rewarding and event till not
only service of the nation but also in helping the Bank emerge as a Global Bank
with Best practices. This justifiable beliefs founded on strong fundamentals,
customer centricity, enlightened leadership and a family like work culture.
Founding Principles:
To remove Superstition and ignorance.
To spread education among all to sub-serve the first principale.
To inu1ate 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.
Sound founding principles, enlightened leadership, unique work culture and

remarkable adaptability to changing banking environment have enabled Canara
Bank to be a frontline Banking institution of global standards.
Significant Milestone of Bank
lst July 1906
Canara Hindu Permanent Fund Ltd. formally registered With a
capital of 2000 shares of 50/- each, with 4 employees.
l910 Canara Hindu Permanent Fund renamed as Canara Bank Limited
l969 14 major in the country inc1uding Canara Bank; nationaliaed on July 19
1976 1000th branch inaugurated
1983 Overseas branch at London inaugurated Cancard (the Banks credit card)
launched
1984 Merger with the Laksmi Commercial Bank Limited
1985 Commissioning of Indo Hong Kong International Finance Limited
1987 Cabbank Mutual fund and Canfin Homes launched
1989 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
l00% 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
Robeco Groep N.V resbective1y.
2007-08
Latuiching 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 3 lakh crore in aggregate business. The
rd
bankss 3 foreign branch at Shanghai commissioned.
2012-13
The Banks aggregate business crossed 6 1akh crore marks Net profit
of the Bank crossed 3000 crore. The _Banks branch network crossed the 3000
mark.
2013-14
Banks aggregate business crossed 7 lakh crore marks. Net profit of
crossed 4000 crore. 100% coverage under Core Solution. The Banks 4 th foreign
branch at Leicester and a Representative office at Sharjah, UAE, opened. The Bank
raised 1993 crore under QIP. Govt. holding reduced to 67.72% post QIP.
Organization structured
Chart showing the organizational structure of Canara Bank
Director
Canara Bank Branches and Offices

Canara Bank has a network of 3728 branches, spread over 22 states/ 4 union
territories of the country and overseas branch @ London which arre administrated
through
Head Office at Bangalore
34 Circles offices/ International Division
3728 Branches
BRANCHES ABROAD: CANARA BANK established its International Division
in 197, to supervise the functioning of it various foreign department to give the
required thrust to Foreign Exchange business, particularly export and to meet the
requirements of NRIs. Though small in size the Banks presence abroad has
brought in considerable foreign business, particularly NRI Deposits.
The presence of bank is shown under;
CANARA BANK, London UK (Branch)
Indo Hong Kong international Finance Co Ltd Kong (subsidiary)

AL Razouki International Exchange' company, Dubai, UAE.
According to the latest information, both the CANARA BANK and

State Bank of India have come into a mutual agreement as to both the banks will
be operating as a one unit in the Moscow.
Products & Services Profile
No projects is too big for the finance and no deposit is too small. The bank is
sensitive to peoples requirements and moves with the times. The rich tradition of
service has continued to keep it in good steady.
The detailed product profile of Canara Bank is as follow;
Personal banking
Loan Products
Technology products
Mutual funds
Insurance business
International Services
Card services
Consultancy Services
Depository Services
Ancillary Services
Corporate banking
Accounts & Deposits
IPO Monitoring Activity
Cash Management Services
Merchant Banking Services
Loans & Advances
Syndication Services
Cauara e-Tax
Remittance Facilities:
Remit money - Web Based Speed Remittance Facility
Swift
Lock Box Service
Rupee Drawing Arrangement - Remittance Through Cheques Drawn On
Account
Maintained with our bank
Internet banking:
Retail Banking
Corporate Banking' _
Priority and SME banking
i. Priority credit
1. Agriculture And Rural Credit Schemes
2. Education Loan And Other Priority Sector Loans Government Sponsored
Schemes
3. Lead bank activities.
4. Lending to minority communities
ii. SME Business
iii. SME Market Desk
iv. Regional Rural Banks
v. Agricultural Consultancy Services
vi. Agri-Business Marketing Desk
vii. Rural Development
viii. Center for Entrepreneurship development for women
ix. Social Banking

Chapter-3 Canara Bank Profile Origin of Canara Bank

Uploaded by

Copyright:

Available Formats

Chapter-3 Canara Bank Profile Origin of Canara Bank

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Chapter-3 Canara Bank Profile Origin of Canara Bank

Uploaded by

Copyright:

Available Formats

CHAPTER-3

CANARA BANK PROFILE

Sound founding principles, enlightened leadership, unique work culture and

Canara Bank Branches and Offices

Indo Hong Kong international Finance Co Ltd Kong (subsidiary)

According to the latest information, both the CANARA BANK and

You might also like