Background

Canara Bank (Canara) was established in 1906 as Canara Hindu Permanent Fund Ltd. In 1910, the bank acquired its present name and in the year 1969 Canara got nationalized.

Business Profile

Canara provides products & services in retail banking, corporate banking and international banking. The bank also provides credit facilities for priority and SME sectors. It provides products like personal loan, home loan, vehicle finance and services like credit card service and distributes MF and insurance products under personal banking segment. The corporate banking provides cash management services, syndication services and merchant banking services among others. Canara also provides loans & advances, deposit products and consultancy services for its NRI clients under international banking business. As on Mar 31 2008, the total business of Canara stood at Rs. 2,613.1 bn and registered a y-o-y growth of over 8%. For FY08, priority sector advances to ANBC stood at around 44% whereas agricultural credit was 18% of the ANBC. As on Mar 31 2008, Canara operated 2,690 branches and had a network of 2,006 ATMs.