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Shareholding Info
  • Promoters
    62.93 %
  • Foreign institutions-FII
    8.74 %
  • Other domestic institutions
    11.83 %
  • Retail and other
    11.72 %
  • Mutual Funds
    4.77 %

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About Canara Bank


Established by Shri Ammembal Subba Rao Pai one fateful day in Mangalore (in 1906), Canara Bank is one of the leading banking institutions in the country today. In its over 100 years of existence, the bank has witnessed a steady rise in its status, now known for its geographical reach and clientele segments.Over the years, Canara Bank has achieved many remarkable feats, which include launching the first Inter-City ATM Network, obtaining a branch-specific ISO certificate, formulation of a Good Banking-Banks Citizen Charter, offering credit cards to farmers, and so on.Canara bank presently serves over 10.4 Crore customers across India via a vast network of 9,732 branches and 12,201 ATMs distributed across all states and Union territories of the country.The bank is also widely applauded for its Corporate Social Responsibility initiatives, covering the domains of rural development, rural self-employment, and financial inclusion.

Core Activities & Products


Over the years, Canara Bank has witnessed dramatic growth, and the core activities undertaken are as listed below:
  1. Deposit Accounts:Like all banking institutions, Canara Bank offers customers the option of parking their funds in deposit accounts. There exist two forms:
    1. Savings Account: To serve the varied needs of customers, Canara Bank allows offers the option of choosing from eight different types of savings accounts. By parking all funds in this type of account, customers can transact seamlessly and also earn interest on their savings
    2. Current Account: There exist three different forms of current accounts with Canara Bank to meet each customer’s unique requirements. Customers can opt for such an account with a minimum deposit of Rs.1,000.
  2. Loans:Canara Bank also offers customers seven different kinds of loans:
    1. Personal Loan: Canara Bank offers four different types of personal loans to customers so that they may meet their financial requirements. These loans are offered at attractive and affordable rates of interest and have a flexible repayment tenure.
    2. Home Loan: For customers looking to build or purchase a home, Canara Bank offers home loans at an interest rate that starts at 8.7% per annum.
    3. Car Loan: If a customer is looking to purchase a new or second-hand four-wheeler, they can opt for a car loan from Canara Bank. The bank can offer as much as 90% of the on-road price of the vehicle, with there being no upper cap on the maximum amount lent.
    4. Loan Against Property: If a customer has pressing financial obligations, they can choose to mortgage their property and avail of a loan. The interest rate for loans against property starts at 11.7%.
    5. Gold Loan: For customers who have to meet an urgent financial requirement, Canara Bank offers loans against goal ornaments and coins.
    6. Education Loan: By opting for the Canara Bank education loan, customers can meet financial obligations pertaining to education – such as fees, purchase of books and uniforms, hostel fees, examination fees, and so on.
    7. Business Loan: At a lucrative rate of interest, customers can apply for a business loan with Canara Bank to meet all business-related expenses. They can do so with minimal documentation and also avail of the overdraft facility.
  3. Investments:When it comes to investing with Canara Bank, customers can choose from:
    1. Fixed Deposits: By investing one’s corpus of funds one-time in a fixed deposit, customers can enjoy a rate of return upwards of 6.7% per annum.
    2. Recurring Deposits: Canara Bank offers customers the option of investing their surplus funds in a recurring deposit, with the tenure varying between 6 months and 120 months. Customers can invest in the same with a starting amount of just Rs.50 per month.
  4. Cards:Canara Bank offers its customers two types of cards:
    1. Credit Cards: BCanara Bank’s credit card offers customers a range of benefits, such as reward points, cashback facilities, airport/railway lounge access, and other exclusive benefits.
    2. Debit Cards: Canara Bank offers its customers a wide range of debit cards suited for varied customers such as students, premium users, and many more.
  5. Banking Services:In addition to the above, Canara Bank offers its customers balance enquiry services, access to mini-statements, net banking facilities, and a 24 x 7 customer helpline number.

Board of Directors

  • Managing Director and Chief Executive Officer: L.V Prabhakar
  • Executive Director: Debashish Mukherjee
  • Executive Director: K Satayanarayana Raju
  • Executive Director: Brij Mohan Sharma

Key Executives


  • Director representing Government of India: Suchindra Mishra
  • Director representing Reserve Bank of India: R Kesavan
  • Part-time Non-Official Director: Nalini Padmanabhan
  • Part-time Non-Official Director: Dibakar Prasad Harichandan
  • Shareholder Director: Bimal Prasad Sharma
  • Shareholder Director: Karunakara Shetty
  • Shareholder Director: Abha Singh Yaduvanshi

Presence


Boasting a vast network of 9,732 branches and 12,201 ATMs distributed across all states and Union territories of the country, Canara Bank is one of the top banking institutions in the country. In addition to its exploits in India, the bank has also ventured overseas and has established six offices in foreign countries (London, New York, Dubai, Sharjah, Moscow, and Tanzania).

Registered Office:


Head Office No. 112,
J.C. Road,
Bengaluru – 560002
India 

Strengths:


The strengths of the company that have affected Canara Bank's share prices and give it a competitive advantage in the market are as follows:
  1. Canara Bank employs over 86,919 people – thus offering a means of livelihood to many Indians.
  2. Canara Bank offers a wide range of inventive schemes and also offers loans to rural citizens (such as farmers) at lower rates of interest.
  3. It enjoys great goodwill with the masses, owing to the fact that it better articulates good practice norms and offers customers a seamless banking experience.
  4. The bank consistently showcases strong EPS growth ratios, as well as ever-increasing growth in net profits and gross profits.

CSR and Sustainability


Over the years, Canara Bank has stood out in the banking sector for its CSR contributions made for the betterment of society. In addition to establishing trusts such as the Canara Centenary Rural Development Trust, the Canara Financial Advisory Trust, the Canara Golden Jubilee Education Fund, and the Canara Relief & Welfare Society, the bank invests its CSR funds in programmes across the following domains:
  • Upliftment of Artisans
  • Upliftment of Small/Marginal Farmers
  • Upliftment of Women/Female Children
  • Upliftment of the Differently Abled
  • Upliftment of Scheduled Tribes and other Minority Communities
  • Upliftment of Prisoners and Ex-Convicts
  • Upliftment of Victims of Crime
  • Upliftment of Victims of Calamities

Some of its CSR initiatives include:
  • Sports Training for children hailing from tribal communities
  • PwD Welfare Scheme
  • Rural Development Programmes
  • Skill Development Programmes
  • Community Development Programmes
  • Healthcare Promotion Programmes
  • Education Promotion Programmes
  • Water and Sanitation Programmes

COVID-19 Impact


In spite of the pandemic, Canara Bank’s balance sheet post the second lockdown showcased strong numbers. While the collection efficiency dipped by 2% - 3%, from 92% to 88.8%, other metrics saw an improvement. The provision coverage ratio witnessed a rise from 76.95% to 79.68%, while net income grew by a whopping 40%, year on year. Additionally, even post the pandemic, operating profits stood at a record high of Rs.20,009 Crores.

Future Prospects


The future prospects of Canara Bank include:
  1. Within the next few years, Canara Bank aims to further improve its bottom line, with a greater emphasis on retail, as well as big and small businesses.
  2. The bank intends to make use of a robust capital base, along with greater adoption of digital technology, to further augment and streamline its business.

Did You Know!


Did you know that Canara Bank’s founder, Shri Ammembal Subba Rao Pai, was a philanthropist and visionary and established the bank on seven principles? These included the need to inculcate the habit of saving, the want to assist the needy, and work with a sense of dedication and service, to name a few.Also, in 1996, the bank was the first among its peers to receive an ISO certification for ‘Total Branch Banking’, which was awarded to its Seshadripuram branch in Bengaluru.

Initial Public Offering


The Canara Bank IPO was listed on both the NSE as well as the BSE. It was launched in November 2002, and a total of 11,00,00,000 shares were listed. These equity shares were offered to the public at a price of Rs.35 per share.

Equity Shares


For the first quarter of the new financial year (April-June 2022), Canara Bank reported a consolidated total Income which was 3.18% lower than the last quarter and up by 1.93% as compared to the same quarter last year. Most brokerage firms are of the opinion that by factoring in near-term capital infusion, Canara Bank’s loan book could show signs of flattening. Additionally, it is estimated that by FY23, the ROA and ROE ratios will showcase an upward spiral.
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