Canara Bank

Ref: DIR47

Type : Banks

Founded as 'Canara Bank Hindu Permanent Fund' in 1906, by late Sri. Ammembal Subba Rao Pai, a philanthropist, this small seed blossomed into a limited company as 'Canara Bank Ltd.' in 1910 and became Canara Bank in 1969 after nationalisation.
"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"- A. Subba Rao Pai.

Canara Bank is one of the premier banks 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 epitomizes a perfect blend of commercial and social banking.

For the year March 2005, the Bank clocked the highest net profit ( Rs.1110 crore ) among nationalized banks, with significant improvement in capital adequacy ratio (12.78%) and asset quality (net NPA ratio of 1.88%).

The Bank has already carved a niche in providing IT-based services. With 100% computerisation of the branches, the bank provides a wide array of services, such as, Networked ATMs, Anywhere Banking, Telebanking, Remote Access Terminals Internet & Mobile Banking, Debit Card etc. The Bank was the first among banks to launch networked ATMs and obtain ISO Certification.

Commercial consideration has, no way, diluted the Bank's role in national priorities. Canara Bank is in fact the first bank to be conferred FICCI award for contribution to rural development.

Founding Principles
To remove Superstition and ignorance.
To spread education among all to sub-serve the first principle.
To inculcate 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.