The year was 1906 and the visionary a businessman from Mangalore Sri. Ammembal Subba Rao Pai. The idea – Canara Bank Hindu Permanent Fund. The fund became a limited company in 1910 as Canara Bank Ltd. and went on to become Canara Bank in 1969 after nationalization.
The bank started its operations with 1L share capital and just four employees. Today this small seed has grown into a wide banyan tree doing a business mix of over 3,34,325 Crore!
Apart from the regular banking activities the bank has subsidiaries in other financial service too. These include Canbank Mutual fund, Canfin homes, Canbank venture capital fund and Canbank factors limited.
One of Canara banks branches in Mangalore to become the first branch to be conferred with the ISO 9002 certification in 1995. The bank is also credited with opening the first “Mahila” branch in Bangalore catering specifically to women clients
The bank brands its loans with a prefix of “CAN”, Canbudget stands for Personal Loan, Canmobile for Car loan, CanMortgage and so on.
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