Canara Bank in India

	Founded as 'Canara Bank Hindu Permanent Fund' in 1906, by late Sri. Ammembal Subba Rao Pai, a philanthropist, this small seed blossomed into a limited company as 'Canara Bank Ltd.' in 1910 and became Canara Bank in 1969 after nationalization.
"A good bank is not only the financial heart of the community, but also one with an obligation of helping in every possible manner to improve the economic conditions of the common people" - A. Subba Rao Pai. 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. Sound founding principles, enlightened leadership, unique work culture and remarkable adaptability to changing banking environment have enabled Canara Bank to be a frontline banking institution of global standards. Significant Milestones Year 1st July 1906 Canara Hindu Permanent Fund Ltd. formally registered with a capital of 2000 shares of Rs.50/- each, with 4 employees. 1910 Canara Hindu Permanent Fund renamed as Canara Bank Limited 1969 14 major banks in the country, including Canara Bank, nationalized on July 19 1976 1000th branch inaugurated 1983 Overseas branch at London inaugurated Cancard (the Bank’s credit card) launched 1984 Merger with the Laksmi Commercial Bank Limited 1985 Commissioning of Indo Hong Kong International Finance Limited 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 & Mobile 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 Rs. 3 lakh crore in aggregate business The Bank’s 3rd foreign branch at Shanghai commissioned

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