Canara Bank was established in 1906 by Ammembal Subba Rao Pai, and has become one of the leading banks in India.
Image: company website
It was nationalized by the government in 1969 and is one of the oldest banks in India. Canara Bank is the first Indian Bank to get an ISO certification as it became ISO certified in 1996 for "Total Branch Banking" for its Seshadripuram branch in Bengaluru.
Similar to other state sector banks like Punjab National Bank, Bank of Baroda, Bank of India, UCO Bank, Canara Bank also posted big losses this financial year.
Interest and Discounts on Advances and Bills constitutes the major portion of the revenue of the bank (73.29% of total interest income). Canara bank has 8 subsidiary companies. Canara Bank also started ‘SME Sulabh’ scheme to provide faster credit to MSME sector. These centers will reduce the turnaround time in providing credits to MSME by directly receiving, proposing and sanctioning the credit proposals. Canara Bank sponsors various social welfare activities through its Social Banking Cell. It was awarded by ASSOCHAM in 2015 for Agricultural and Best Social Banking Excellence.
Canara bank has a clientele base of more than 33 million. It has more than 2700 branches and 2000 ATMs all over India. Canara Bank started overseas operations in 1983 by opening a branch in London. Canara Bank inaugurated a 'Mahila Banking Branch' in Bengaluru during 2001-02. This branch mainly served the financial requirements of Women. Canara Bank had a revenue of Rs. 44022.13 crore in latest financial year (2015-16). Its loss stood at Rs. 2812.82 crore. It has total market capitalization of Rs. 10471.56 crore.