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At the time of its establishment, the bank was known as Canara Industrial and Banking Syndicate Limited. The bank, along with 13 major commercial banks of India, was nationalised on 19 July 1969, by the government of India. It was headquartered in the university town of Manipal, India. On 1 April 2020, the bank was merged into Canara Bank.
In the fiscal year 2005-06, Canara Bank became India's second-largest public sector bank in terms of advances and deposits. The bank changed its name to Canara Bank Limited in 1910 when it incorporated. [5] In 2002-03, the bank went in for its Initial Public Offer and raised Rs.110 crores. [2] The India government holds a 73% stake in Canara Bank.
Canara Bank established its international division 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 2008–2009, Canara Bank opened its third foreign operation, this one a branch in Shanghai.
Shreekant M Bhandiwad, Deputy General Manager of Canara Bank, took charge as the Chairman of the Karnataka Vikasa Grameena Bank (KVGB) on April 24, 2023. Prior to his becoming Chairman of KVGB, Bhandiwad headed the Patna circle of Canara Bank. He was the Deputy Managing Director of Canfin Homes Ltd for a period of three years.
The Geo-Mineral Exploration Corporation was formed in 1968, as a limited partnership of twelve mining-industry professionals. In 1969, with claims to three properties in hand, the Geo-Mineral partnership converted all shares to simple, and preferred stock certificates, as the board unanimously voted to change its structure into that of a Corporation.
George Joseph is chairman and non-executive independent director at Wonderla Amusement Park and Resort, non-executive independent director at Muthoot Finance and he is the ex-chairman and managing director of Syndicate Bank. He took over as the chairman and managing director on 2 August 2008. He joined Syndicate Bank in April 2006 as executive ...
Ammembal Subba Rao Pai (19 November 1852 – 25 July 1909) was a leading lawyer of Mangalore, India.He was the founder of Canara Bank, now one of India's leading banks, and Canara High School in Mangalore.