A Brief Profile of the Bank
Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through the various phases of its growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties was characterized by business diversification for the Bank. In June 2006, the Bank completed a century of operation in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones. Today, Canara Bank occupies a premier position in the comity of Indian banks. Canara Bank has several firsts to its credit. These include:
Launching of Inter-City ATM Network
Obtaining ISO Certification for a Branch
Articulation of ‘Good Banking’ – Bank’s Citizen Charter
Commissioning of Exclusive Mahila Banking Branch
Launching of Exclusive Subsidiary for IT Consultancy
Issuing credit card for farmers
Providing Agricultural Consultancy Services
Over the years, the Bank has been scaling up its market position to emerge as a major 'Financial Conglomerate'
with as many as nine subsidiaries/sponsored institutions/joint ventures in India and abroad. As at June 2016, the Bank has further expanded its domestic presence, with 5847 branches spread across all geographical segments. Keeping customer convenience at the forefront, the Bank provides a wide array of alternative delivery channels that include 9657 ATMs, covering 4081 centres.
Several IT initiatives were undertaken during the year. The Bank set up 172 hi-tech E-lounges in select branches with facilities like ATM,
Cash Deposit Kiosk with voice guided system, Cheque Deposit Kiosk, Self Printing Passbook Kiosk, Internet Banking Terminal,
Online Trading Terminal and Corporate Website Access. ‘Canara e-Infobook’ – an electronic passbook and banking related information facility was
introduced on mobile platforms - Android, Windows & iOS. The Bank also launched Canara Bank RuPay Debit Card, Canara Club Card – Debit,
Canara Secured Credit Card, Canara Elite Debit Card, Canara Bank Platinum Rupay Cards, Platinum Rupay Card and EMV Chip Cards under debit
and credit cards. Online Savings Bank and PPF account opening were introduced.The Bank made several value additions under internet
banking and mobile banking services. The Bank has introduced enhanced version of CanMobile, Canara e-InfoBook- an electronic passbook and banking related information facility on mobile platforms - Android, Windows & iOS and Canara m-Wallet to provide more convenience and facilities to customers. Canara Galaxy, a combo product launched, comprising SB, Demat, OLT, Internet & Mobile Banking, Insurance, card services and other add-ons. Under education loan interest subsidy, web portals released for Central Scheme for Interest Subsidy (CSIS), Ministry of HRD, GoI, Dr. Ambedkar Central Sector Scheme of Interest Subsidy (ACSIS), Ministry of Social Justice & Empowerment, GoI and Padho Pardesh, Ministry of Minority Affairs, GoI.
The Bank has launched Instant loan application in principle sanction portal for Housing Loan and Car Loan. The Bank issued MUDRA Debit Card for overdraft accounts under MUDRA Card scheme. P2U (Person to UIDAI) funds transfer through Mobile Banking in WAP channel was enabled by the Bank. Subscription of Social Security Schemes of Govt. of India through ATM, SMS and Internet Banking was enabled by the Bank. The Bank has implemented “Jeevan Praman” a digital life certificate for pensioners.
The Bank has Implemented automated reminder SMS/Email Alerts to customers intimating to submit RC Copy/Insurance for the vehicle loans and tax paid receipt/certificate for the mortgaged property. Missed Call / SMS Based ePass Sheet generation made live by the Bank. The Bank has successfully implemented SMS/Email Alerts to NPA Borrowers intimating to regularize overdues in accounts. Mobile Banking Registration through ATMs (Interoperability through NFS) has been successfully introduced by the Bank.
Not just in commercial banking, the Bank has also carved a distinctive mark, in various corporate social responsibilities, namely,
serving national priorities, promoting rural development, enhancing rural self-employment through several training institutes and
spearheading financial inclusion objective. Promoting an inclusive growth strategy, which has been formed as the basic plank of
national policy agenda today, is in fact deeply rooted in the Bank's founding principles. "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".
These insightful words of our founder continue to resonate even today in serving the
society with a purpose. The growth story of Canara Bank in its first century was due, among others, to the continued patronage of its
valued customers, stakeholders, committed staff and uncanny leadership ability demonstrated by its leaders at the helm of affairs.
We strongly believe that the next century is going to be equally rewarding and eventful not only in service of the nation but also
in helping the Bank emerge as a "Preferred Bank"
by pursuing global benchmarks in profitability,
operational efficiency, asset quality, risk management and expanding the global reach.