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Canara Bank.

BSE: 532483 Sector: Financials
NSE: CANBK ISIN Code: INE476A01014
BSE 00:00 | 17 Aug 277.35 8.90
(3.32%)
OPEN

272.25

HIGH

278.55

LOW

271.10

NSE 00:00 | 17 Aug 277.35 9.75
(3.64%)
OPEN

270.00

HIGH

278.25

LOW

270.00

OPEN 272.25
PREVIOUS CLOSE 268.45
VOLUME 353806
52-Week high 463.40
52-Week low 220.00
P/E
Mkt Cap.(Rs cr) 20,336
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 272.25
CLOSE 268.45
VOLUME 353806
52-Week high 463.40
52-Week low 220.00
P/E
Mkt Cap.(Rs cr) 20,336
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 with 6204 branches and 9395 ATMs catering to all segments of an ever growing clientele accounts base of 8.27 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. In 2017-18 the global business of the bank crossed Rs 9 lakh crore.