You are here » Home » Companies » Company Overview » Canara Bank

Canara Bank.

BSE: 532483 Sector: Financials
NSE: CANBK ISIN Code: INE476A01014
BSE 00:00 | 15 Apr 135.75 -1.60
(-1.16%)
OPEN

136.00

HIGH

139.30

LOW

133.60

NSE 00:00 | 15 Apr 135.75 -1.60
(-1.16%)
OPEN

136.30

HIGH

139.30

LOW

133.60

OPEN 136.00
PREVIOUS CLOSE 137.35
VOLUME 610537
52-Week high 174.40
52-Week low 75.80
P/E
Mkt Cap.(Rs cr) 22,355
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 136.00
CLOSE 137.35
VOLUME 610537
52-Week high 174.40
52-Week low 75.80
P/E
Mkt Cap.(Rs cr) 22,355
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Canara Bank. (CANBK) - Company History

Canara Bank is a state-owned commercial bank with headquarters in Bangalore. The Bank operates in four segments namely treasury operations retail banking operations wholesale banking operations and other banking operations. The Bank provides a range of products and services to the customers. Canara Bank has a strong pan India presence and as on 31 December 2020 it has 10491 branches and 12973 ATMs catering to all segments of an ever growing clientele accounts base of 10.90 crore. Across the borders the Bank has 8 branches one each at London Leicester Hong Kong Shanghai Manama Johannesburg New York and DIFC (Dubai) & a Representative Office at Sharjah UAE.The subsidiaries of the Bank include Canbank Financial Services Ltd Canbank Venture Capital Fund Ltd Canbank Factors Ltd Canara Robecco Asset Management Company Ltd Canbank Computer Services Ltd Canara Bank Securities Ltd and Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd.Canara Bank was incorporated on July 1 1906 with the name Canara Hindu Permanent Fund Ltd. In the year 1910 the name of the Bank was changed from Canara Hindu Permanent Fund Ltd to Canara Bank Ltd. In July 19 1969 the Bank was nationalized along with 14 major banks in the country. In the year 1976 they inaugurated their 1000th branch.In the year 1983 the Bank inaugurated an overseas branch at London. In the year 1984 Laksmi Commercial Bank Ltd was amalgamated with the Bank. In the year 1985 the Bank commissioned Indo Hong Kong International Finance Ltd. In the year 1987 they launched Canbank Mutual Fund & Canfin Homes. In the year 1989 they started Canbank Venture Capital Fund.During the year 1989-90 the Bank incorporated their factoring subsidiary Canbank Factors Ltd. During the year 1992-93 they became the first Bank to articulate and adopt the directive principles of 'Good Banking'. During the year 1995-96 they became the first Bank to be conferred with ISO 9002 certification for one of its branches in Bangalore.During the year 2001-02 the Bank opened a 'Mahila Banking Branch' first of its kind at Bangalore for catering exclusively to the financial requirements of women clientele. During the year 2003-04 they launched Internet Banking Services. During the year 2005-06 they launched Core Banking Solution in select branches.During the year 2006-07 the Bank signed MoUs for commissioning two joint ventures in Insurance and Asset Management with international majors namely HSBC (Asia Pacific) Holding and Robeco Groep N.V respectively. During the year 2007-08 they launched New Brand Identity. They incorporated Insurance and Asset Management joint ventures. Also they launched 'Online Trading' portal and a 'Call Centre'.During the year 2008-09 the Bank commissioned their third foreign branch at Shanghai. They expanded their arrangement under 'Remit Money' a web based product by extending to 11 Exchange Companies/ Banks and continues to have Electronic Funds Transfer (EFT) arrangement with 10 Exchange Houses /Banks. The Bank opened 54 new branches during the year.During the year 2009-10 the Bank opened 314 new branches taking the total branches to 3046. They expanded their arrangement under 'Remit Money' a web-based product by extending to 17 Exchange Companies/ Banks and 4 branches abroad. They launched 'SME SULABH' a new business model for speedy credit delivery to the MSME Sector.During the year 2010-11 the Bank added 210 domestic branches taking the total tally under the branch network to 3257 branches including 4 overseas branches one each at London Leicester Hong Kong and Shanghai. During the year the bank's aggregate business crossed Rs 5 lakh crore mark and net profit crossed Rs 4000 crore mark. The bank achieved 100% coverage under Core Banking Solution during the year. In 2010-11 Canara Bank raised Rs 1993 crore under QIP. The holding of Government of India in the bank was reduced to 67.72% post QIP.In 2011-12 the total number of branches of the bank reached 3600. During the year the bank opened its 5th foreign branch at Manama Bahrain. In 2013-14 the bank opened 1027 branches and 2786 ATMs. During the year the global business of the bank crossed the Rs 7 lakh crore milestone. In 2014-15 the global business of the bank crossed Rs 8 lakh crore. In 2015-16 Canara Bank opened its 8th foreign branch at DIFC (Dubai). In 2016-17 Canara Bank's branch network crossed 6000 milestone. During the year the bank opened a foreign subsidiary in Tanzania. During the FY2018 the total Deposits increased to Rs 524772 crore as compared to Rs 495275 crore in the FY2017 with a y.o.y growth of 5.96.The total business of the Bank increased to Rs 906475 crore with a y-o-y growth of 8.26% compared to Rs 837284 crore in 2017. During the year the Bank's total clientele base increased by 48 lakhs to 8.27 crore from the last year's level of 7.79 crore. As on 31 March 2018 the bank has 7 domestic subsidiaries one joint venture and one associate company under its roof.During the FY2018 the bank received Master card Innovation Award for Canara International Prepaid card under prepaid segment. The bank also received VISA Award on crossing a key milestone on issuance of 1.35 crore VISA debit card. The bank also bagged ASSOCHAM Social Banking Excellence Awards 2017 for Government Sponsored Schemes and Runner-up for Agriculture Banking in the Large Bank Class. The bank received Golden Peacock Award 2017 for Corporate Social Responsibility from Institute of Directors New Delhi.The Bank raised Rs 4865 Crore on 27.03.2018 by issue / allotment of 135954616 shares of Rs 10 each issued at a price of Rs 357.84 to Government of India on preferential basisIn a bid to expand the reach the bank added 132 domestic branches during the year. As at 31 March 2018 the Bank had 6212 branches including Specialized Branches and 8 overseas branches. The bank has 9395 number of ATMs as on 31 March 2018.During the fiscal 2019 the total Deposits increased to Rs 599033 crore as compared to Rs 524772 crore in the previous year with a y-o-y growth of 14.15%. The total business of the Bank increased to Rs 1043249 crore with a y-o-y growth of 12.71% compared to Rs 925615 crore in the previous year. During the year the Bank's total clientele base increased by 46 lakhs to 8.73 crore from the last year's level of 8.27 crore.In a bid to expand the reach the bank added 32 domestic branches and converted 84 Retail Asset Hubs as general branches during the year. As at 31 March 2019 the Bank had 6316 branches including Specialized Branches and 6 overseas branches. The bank has 8851 number of ATMs as on 31 March 2019.During the FY2019 the bank Secured Chamber of Indian Micro Small & Medium Enterprises (CIMSME) awards for best bank for promotional schemes (Large category). The bank Secured 1st position in Digital Score Card among all PSBs published by Ministry of Electronics and Information Technology (MeitY) as on 31.12.2018. The bank bagged four awards from the Associated Chambers of Commerce and Industry of India (ASSOCHAM) under its Social Banking Excellence Awards 2018. During the FY2020 the total Deposits increased to Rs 625351 crore as compared to Rs 599033 crore in the previous year with a y.o.y growth of 4.39%. The total business of the Bank increased to Rs 1076574 crore with a y.o.y. growth of 3.19% compared to Rs 1043249 crore in the previous year. In a bid to expand the reach the bank added 45 domestic branches during the year. As at 31 March 2020 the Bank had 6334 branches including 291 Specialized Branches and 5 overseas branches. The bank has 8850 number of ATMs as on 31 March 2020.During the year Ministry of Finance Government of India has infused Capital of Rs 6571 Crore in the Bank during the current financial year by way of preferential allotment of equity shares. The Bank issued 27 69 88576 fully paid-up equity shares of Rs 10/- each at an issue price of Rs 237.23 per equity share including premium of Rs 227.23 aggregating Rs 6571 crore on preferential basis to the Government of India and there by Government of India holding in the bank increased to 78.52%.The bank has raised capital by issuing Basel III Compliant Tier II Bonds to the tune of Rs 3000 crore bearing coupon of 7.18% in the last quarter of FY 2020.The Government of India (Gol} Ministry of Finance Department of Financial Services has issued Gazette Notification no. CG-DL-E04032020-216535 dated 04.03.2020 approving the scheme of Amalgamation of Syndicate Bank into Canara Bank in exercise of the powers confered by section 9 of the Banking Companies (Aquisition and Transfer of Undertaking) Act 1980 (40 of 1980). The amalgamation has come into effect from 01.04.2020.Pursuant to Scheme of Amalgamation of Syndicate Bank into Canara Bank Scheme 2020 the Bank allotted 423268155 equity shares to the eligible shareholders of Syndicate Bank on 01.04.2020as per the approved share exchange ratio (158 equity shares of Canara Bank for every 1000 equity shares of Syndicate Bank). The bank bagged IBA's 15th Annual Banking Technology Award 2020 received for Most Customer-Centric Bank using Technology. FINNOVITI 2020 award received for CANDLE for one of the best innovation in financial sectors' technology. Canara DiYA won Silver in SKOCH Awards 2019. The bank also received the Best innovation in Banking technology award for CANDI Branch received in IDRBT banking technology innovation contest. The Bank received Rajbhasha Kaaraynvayan Ratna Award by Parivartan Jan KalyanSamiti Delhi.As on December 2020 the bank has 9 subsidiaries one joint venture and 5 associate companies under its roof.During quarter ended 31.12.2020 the Bank has issued and allotted 193236714 equity shares of face value of Rs 10 each to qualified institutional players at an issue price of Rs.103.50 per equity shares (which includes Rs.93.50 per equity share towards share premium}.During quarter ended 31.12.2020 the Bank has issued Basel Ill Compliant Additional Tier -I Bond Series Ill of Rs.1635 crore through private placement.

.