Greetings from INDIA BUSINESS INSIGHTS, We are back with a new video on one of the

oldest banks of our country , canara Bank. 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. Now let’s begin with a brief of its records, Canara
bank  is an Indian public sector bank headquartered in Bangalore. It was established in 1906
at Mangaluru, then a small port town in South India. Canara Bank’s founder, Shri Ammembal
Subba Rao Pai, was an eminent lawyer, educationist, social reformer and a visionary par
excellence, who had sown the seeds for the present success of the organisation. The bank also
has offices in London, Dubai and New York. Let’s look into its evolution, Canara Bank's first
acquisition took place in 1961 when it acquired Bank of Kerala. This had been founded in
September 1944 and at the time of its acquisition on 20 May 1961 had three branches. The
second bank that Canara Bank acquired was Seasia Midland Bank (Alleppey), which had been
established on 26 July 1930 and had seven branches at the time of its takeover. In 1958,
the Reserve Bank of India had ordered Canara Bank to acquire G. Raghumathmul Bank,
in Hyderabad. This bank had been established in 1870, and had converted to a limited
company in 1925. At the time of the acquisition G. Raghumathmul Bank had five
branches. The merger took effect in 1961. Later in 1961, Canara Bank acquired Trivandrum
Permanent Bank. This had been founded on 7 February 1899 and had 14 branches at the time
of the merger. Did you know that The government of India nationalised Canara Bank, along
with 13 other major commercial banks of India, on 19 July 1969. In 1976, Canara Bank
inaugurated its 1000th branch. In 1985, Canara Bank acquired Lakshmi Commercial Bank in
a rescue. In 1996, Canara Bank became the first Indian Bank to get ISO certification for "Total
Branch Banking" for its Seshadripuram branch in Bangalore. Canara Bank has now stopped
opting for ISO certification of branches. Lets move further and look into the largest
acquisition of canara bank, On 30 August 2019, Finance Minister Nirmala
Sitharaman announced that Syndicate Bank would be merged with Canara Bank. The Union
Cabinet approved the merger on 4 March 2020. With this canara bank became the Fourth
largest PSU lender, with 10,342 branches. With this Its total business size jumped to about Rs
15.2 lakh crore AND It became 1.5 times the current size of Canara Bank Lets look into its
Overseas subsidiaries, branches and offices of canara bank its international division was
established in 1976. In 1983, Canara Bank opened its first overseas office, a branch in
London. Two years later, Canara Bank established a subsidiary in Hong Kong, Indo Hong
Kong International Finance. In 2008–9, the Bank opened its third foreign operation, this one
a branch in Shanghai. Later the Bank established a branch each in Leicester and Bahrain,
and converted its Hong Kong subsidiary into a branch. Since 1983, THE Bank has been
responsible for the management of Eastern Exchange Co. WLL, Doha, Qatar, which Abdul
Rahman M.M. Al Muftah established in 1979. There are few Subsidiary Companies of
canara bank as well, lets see into it.

 Canfin Homes Limited (CFHL)

 Canbank Factors Limited
 Canbank Venture Capital Fund Limited
 Canbank Computer Services Limited
 Canara Bank Securities Limited
 Canara Robeco Asset Management Company Limited
 Canbank Financial Services Limited
 Canara HSBC Oriental Life Insurance Company Limited

Did you know that Canara Bank has also sponsors four regional rural banks (RRB)
namely

 Kerala Gramin Bank 

 Karnataka Gramin Bank has
 Karnataka Vikas Grameena Bank 
 Andhra Pragathi Grameena Bank

Canara bank launched its revolutionary Unified Payment Interface (UPI app , Empower .
On 19 November 2017, it launched Canarites (Candi) app, a digital library, a field recovery
mobile app, a retail loan (vehicle) – tracking system, and a regulatory guidance tracking
system.
But let me tell you that Not all things were going good for the bank, The bank was
caught in Money Laundering Controversy, On 6 June 2018, the UK division of Canara Bank
was fined £890,000 ($1.2 million) by the UK's Financial Conduct Authority and was blocked
from accepting new deposits for around five months for systematic anti-money laundering
(AML) failures. Now, Lets dive into Awards/Accolades the bank Received during 2020-21
• In IBA’s 16th Annual Banking Technology Awards, Canara Bank received Joint Runner-up
award for Best Payment Initiatives.

• it received Finnoviti 2021 award for Integration of Govt Scheme Demat Trading Insurance.

• the Bank was second runner up in the Institutionalizing Prudent Banking theme under Ease
3.0 as of Mar’21.

• the Bank has also received “Award of par Excellence” in APY Big Believers 3.0 (ABB)
organised by PFRDA.

• it has received “Exemplary Award” from PFRDA for achievement under Atal Pension Yojana
“Old Age Financial Freedom Fighters”.

• the Bank has received “Certificate of Excellence – Amazing Achievers of APY” from PFRDA.

• it received first prize for “Rajbhasha Kirti Award 2020-21” in September 2021 for in-house
Magazine “Canara Jyothi”.
Now have a look at the Significant Milestones of the bank

In 1st July Canara Hindu Permanent Fund Ltd. formally registered with a capital of
1906 2000 shares of 50/- each, with 4 employees.

In 1910 Canara Hindu Permanent Fund renamed as Canara Bank Limited

In 1969 14 major banks in the country, including Canara Bank, nationalized on

July 19

In 1976 1000th  branch inaugurated

1983 Overseas branch at London inaugurated Cancard (the Bank’s credit card)
launched

1985 Takeover of Lakshmi Commercial Bank Limited Commissioning of Indo

Hong Kong International Finance Limited (now a full fledged branch)

1987 Canbank Mutual Fund & Canfin Homes launched

1989 Canbank Venture Capital Fund started

1989-90 Canbank Factors Limited, the factoring subsidiary launched

1992-93 Became the first Bank to articulate and adopt the directive principles of
“Good Banking”.

1995-96 Became the first Bank to be conferred with ISO 9002 certification for one
of its branches in Bangalore

2001-02 Opened a 'Mahila Banking Branch', first of its kind at Bangalore, for
 catering exclusively to the financial requirements of women clientele.

2002-03 Maiden IPO of the Bank

2003-04 Launched Internet Banking Services

2004-05 100% Branch computerization

2005-06 Entered 100th Year in Banking Service. Launched Core Banking Solution
in select branches. Number One Position in Aggregate Business among
Nationalized Banks.

2006-07 Retained Number One Position in Aggregate Business among Nationalized

Banks. Signed MoUs for Commissioning Two JVs in Insurance and Asset
Management with international majors viz., HSBC (Asia Pacific) Holding
and Robeco Groep N.V respectively.

2007-08 Launching of New Brand Identity. Incorporation of Insurance and Asset

Management JVs. Launching of 'Online Trading' portal. Launching of a
‘Call Centre’. Switchover to Basel II New Capital Adequacy Framework.

2008-09 The Bank crossed the coveted 3 lakh crore in aggregate business. The
Bank’s 3rd foreign branch at Shanghai commissioned.

2009-10 The Bank’s aggregate business crossed 4 lakh crore mark.

Net profit of the Bank crossed 3000 crore. The Bank’s branch network
crossed the 3000 mark.

2010-11 The Bank’s aggregate business crossed 5 lakh crore mark. Net profit of the
Bank crossed 4000 crore. 100% coverage under Core Banking Solution.
The Bank’s 4th foreign branch at Leicester and a Representative office at
Sharjah, UAE, opened. The Bank raised 1993 crore under QIP. Govt.
holding reduced to 67.72% post QIP.
 Total number of branches reached 3600. The Bank’s 5 th foreign branch at
2011-12 Manama, Bahrain opened. 

2012-13 Highest Dividend of 130% paid for the year

2013-14 1027 branches and 2786 ATMs opened during the year. Global business
crossed the 7 lakh crore milestone. Switchover to Basel III New Capital
Adequacy Framework.

2014-15 Global Business of the Bank crossed 8 lakh crore.

2015-16 The Bank's 8th foreign branch at DIFC (Dubai) opened.

The bank is also deeply invested in Corporate Social Responsibilities Initiatives

Did you know that
On 7 May 2020, Bhanu Srivastav from Canara Bank, partnered with NGOs to donate all his
royalty proceeds for the betterment of needy children. Vision of our founder Sri Ammembal
Subba Rao Pai that, “a good Bank is not only the financial heart of the community, but has
also an obligation of helping in every manner to improve the economic conditions of the
common people” has been the guiding principle of the Bank’s CSR activities from the
beginning.  Bank has been taking up various activities in helping people and has earned the
distinction of being social heart of the community in which it operates. Major initiatives of
the Bank under CSR have been the setting up of Trusts and Institutions which have created an
impact in serving the people and society at large. Such as Canara Centenary Rural
Development Trust & Canara Financial Advisory Trust. Bank continues to actively fund and
also involve in the activities of these Trusts under its CSR. In addition, Bank has facilitated
setting up of below mentioned Trusts as their founder member. Canara Golden Jubilee
Education Fund. Canara Relief & Welfare Society Bank has also been partnering with like
minded organizations for CSR activities in the area of livelihood creation, education, health
and environment and participated in meaningful activities.  The contribution of the Bank has
received wide recognition and the Bank has been bestowed with various awards and
accolades for its efforts under CSR arena.

Now lets know about the IPO OF CANARA BANK

The Bangalore-based Canara Bank is set to hit the market with an initial public offering (IPO)
of Rs 385 crore, consisting of 11 crore shares of Rs 10 each at a premium of Rs 25 each. The
issue opened for subscription on November 18-27, 2002.
Do you know that, Canara Bank has the distinction of posting profit for 96 years since its
inception. For the year ended March 2002, the bank posted a net profit of Rs 741.4 crore. The
net non-performing assets (NPAs) of the bank as on March 31, 2002 at 3.89 per cent is one of
the lowest among the state-run banks, the bank said.
Let us dive deep into the PRESS RELEASE of canara bank on as on 30th JULY 2022

As compared to 2021 Operating Profit grew by 20.53%

Non-Interest Income grew by 24.55%
Fee based income grew by 17.95%
Cost to Income Ratio declined by 210 bps
Global Business grew by 11.45%
Gross Advances grew by 14.47%
Agricultural & Allied Credit grew by 18.42%
Retail Credit grew by 11.56%
RAM Credit grew by 14.85%,
Gold Loan grew by 26.20%,
CASA Deposits increased by 8.76%
Retail term deposit grew by 6.15%
Gross NPA Ratio down by 152 bps
Net NPA Ratio down by 98 bps
Return on Assets improved to 0.65% for Q1FY23 against 0.41% for Q1FY22
Return on Equity improved to 16.33% for Q1FY23 against 11.53% for Q1FY22
Lets look into the Asset Quality of the bank
Gross Non-Performing Assets (GNPA) ratio stood at 6.98% as at June 2022 as against 7.51%
at March 2022, 8.50% as at June 2021.
Net Non-Performing Assets (NNPA) ratio stood at 2.48% as at June 2022 as against 2.65% as
at March 2022,3.46% as at June 2021.
Provision Coverage Ratio (PCR) improved to 84.51% as at June 2022 from 81.18% as at June
2021.
Now we will look into Capital Adequacy of the bank
CRAR stood at 14.91% as at June 2022 (14.90% as at March 2022). Out of which Tier-I is
12.13% (11.91% as at March 2022), CET1 is 10.49% (10.26% as at March 2022) and Tier-II is
2.78% (2.99% as at March 2022).
We will now have a look at Priority Sector & Financial Inclusion of the bank
The Bank has achieved Targets in Priority Sector at 51.32% and Agricultural Credit at
24.22% of ANBC as at June 2022, as against the norm of 40% and 18% respectively. Credit to
small and marginal farmers stood at 18.20% of ANBC, against the norm of 9.50% . Credit to
Weaker Sections stood at 24.25% of ANBC, against the norm of 11.50%

The network of the bank Network is vast, have a look

As on 30.06.2022, the Bank has 9732 Domestic Branches, out of which 3041 are Rural, 2751
Semi- Urban, 1997 Urban & 1943 Metro along with 10802 ATMs. Bank is also having 3
overseas branches in London, Dubai and New York