Canara Bank India

 

Canara Bank is one of India’s most well-known banking institutions with its operations thriving successfully in nearly every part of the country. With its headquarters in Bangalore, the bank’s remarkable foothold is more focused in the southern states.[br]

 

Canara Bank is one of India’s most well-known banking institutions with its operations thriving successfully in nearly every part of the country. With its headquarters in Bangalore, the bank’s remarkable foothold is more focused in the southern states.[br]

Canara Bank: Company Information

Canara Bank was set up at Mangalore, a port-city in the southern Indian state of Karnataka, in the year 1906. Owing to its large customer base, the bank was included in the list of 13 banks which were nationalized in 1969. The move was meant to support the country’s economic growth.

 

Over the years, Canara Bank expanded in terms of geographical reach and market share. In the 80s, the bank management focused highly on business diversification. During this period, the bank stepped into the investment and trading sectors. In 1992, the bank adopted the principle of ‘Good Banking’ to reflect the quality of its products and services.

 

Canara Bank offers:

• personal banking

• corporate banking

• NRI (non-resident Indian) banking services

 

Some of the bank’s most significant milestones are:

 

·        In 1995, it became the first ISO certified Indian bank.

·        In a bold move to support women, Canara Bank commissioned exclusive Mahila Banking branches. The aim was to assist women in their financial endeavors.

·        Launched farmer credit cards.

·        Began agricultural consultancy services in rural areas.

 

In 2002, the bank came out with its maiden public issue. In the following year, it launched phone banking and internet banking services. Based on its 2009 figures, Canara Bank has 2735 domestic branches with an ATM chain of over 2,000 units.

Canara Bank: Products and Services

Canara Bank offers banking products and services under following sections:

 

Personal banking: The bank provides:

• loans, credit cards

• savings

• deposits

• checking services to retail customers

 

Qualified customers can also buy insurance and investment products and seek consultancy services at specific branches.[br]

 

Corporate banking: It includes:

 

• accounts

• deposits

• cash management

• commercial loans

• advances

• syndication

• stock monitoring services

 

The bank offers attractive interest rates to its corporate customers.

 

NRI banking: The NRI customers can avail remittance and money transferring services at specific branches of Canara Bank.

 

With a view to offer speedy branch banking services, Canara Bank has enabled national electronic funds transfer and real time transaction services.