Canara Bank

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Canara Bank

Type	Public BSE: 532483
Founded	Canara Bank Hindu Permanent Fund (1906) Canara Bank Ltd (1910) Canara Bank (1969)
Headquarters	Bangalore, India
Key people	M B N Rao, Chairman & Managing Director Alok Kumar Misra, Executive Director
Industry	Financial Commercial banks
Employees	47,389 (2004-05)
Website	www.canbankindia.com

Currently (2007), the Bank has a network of 2542 branches, spread over 25 States/4 Union Territories of India. The bank also has international presence in several centers, including London, Hong Kong, Moscow, Shanghai, Doha, and Dubai. In terms of business it is the largest nationalised commercial bank in India with a total business of about Rs.2000 billion (about US $43 billion.)

1 History
2 Founding Principles
3 Forbes Global 2000 Ranking 2006
4 Subsidiary Banks
5 Regional Rural Banks
6 See also
7 References

[edit] History

Canara Bank (BSE: 532483 ), established in 1906 with the name of Canara Bank Hindu Permanent Fund in Mangalore, India, by Ammembal Subba Rao Pai, is one of the oldest and major commercial bank of India. Its name was changed to Canara Bank Limited in 1910. The bank, along with 13 other major commercial banks of India, was nationalised on 19th July, 1969, by the Government of India. In the early 1990s, Canara Bank acquired Lakshmi Commercial Bank in a rescue.

[edit] Founding Principles

To remove superstition and ignorance.
To spread education among all to sub-serve the first principle.
To inculcate the habit of thrift and savings.
To transform the financial institution not only as the financial heart of the community but the social heart as well.
To assist the needy.
To work with sense of service and dedication.
To develop a concern for fellow human being and sensitivity to the surroundings with a view to make changes/remove hardships and sufferings.