Top 10 Banks in India 2017

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7. Canara Bank

Founded in 1906 in Mangalore as Canara Bank Hindu Permanent Fund by Ammembal Subba Rao Pai, Canara Bank is one of the oldest public sector banks in the country.

Image: Wikimedia

It was nationalized in 1969 as Canara Bank, and it is headquartered at Bangalore, India. T N Manoharan is the present Chairman of Canara bank and Rakesh Sharma is the present MD and CEO of the company, and by the end of March 2017, the bank has a network of 6000+ branch offices and 10000+ ATMs spread pan India.


It has international presence with offices in England, Hong Kong, Russia, China, Doha, New York etc. Acquisitions by Canara Bank include Bank of Kerala in 1961, Seasia Midlan Bank, G.Raghumathmul Bank, Trivandrum Permanent Bank, Cochin Commercial Bank, Pandyan Bank, Arnad Bank to name a few.

In 1996, Canara Bank became the first Indian Bank to get ISO certification for "Total Branch Banking" for its Seshadripuram branch in Bangalore. Together with State Bank of India, Canara Bank established a joint venture in Moscow, Commercial Bank of India LLC. Canara Bank sponsors two regional rural banks – Kerala Gramin Bank and Pragathi Krishna Gramin Bank.

It has a total asset base of INR 552,960.78 crore. Awards received by Canara Bank during 2016-17  are

• Best Strategy in HR’ & ‘Training Excellence’ – Gold Awards, in 6th Annual Greentech HR Award 2016

• SKOCH Order of Merit’ Award for initiatives under Financial Inclusion.

• Special Award for the Best Financial Institution-Gold’ on 7th year in succession by Federation of Karnataka Chamber of Commerce & Industry (FKCCI).

Interest Earned (Cr): Rs41627

Net Profit (Cr): Rs907

Return of Asset: 0.23%

Net NPA(Cr): Rs22295

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