Canara Bank was founded in 1906. It has its headquarters at Bangalore in India. The key officials of the bank include A C Mahajan who acts as both its Managing Director and its chairman.
Other officials of the bank are D L Rawal and G S Vedi who act as the Executive Directors of the bank. The bank has a total of 47,389 employees. It was initially established as the Canara Bank Hindu Permanent Fund.
It is considered one of the oldest commercial banks in India. It changed its name to Canara Bank in 1910. It was nationalized by the government of India on the 19th day of July, 1969.
Canara Bank has proposed the inclusion of ATM network that will feature increase of ATMS from about 345 to 500 biometric ATM’s in the region. It also looks forward to introduction of internet banking, phone banking and mobile banking in its system.
It takes part in various developmental projects including promotion of agriculture and implementation of finance systems. The bank has a well organized banking structure. I n order to ensure that its banking services meet the needs of both corporate and retail clients, it put in place a cluster banking solution that features a highly coordinated branch network.
Canara Bank has representative offices all over the region. It is guided by well formulated banking principles. The bank offers various facilities to both its retail and corporate clients. Some of theses include housing systems, car loans, education and medical policies. In addition to these, the bank also offers credit card facilities that are aimed to improve banking facilities in the region.
The bank is guided by banking policies that are put in place by the government of India. It has affiliations with other banks making it one of the best performing banks in the region.
Canara Bank obtained Lakshmi Commercial bank in a rescue bid in 1985. Of the total of about 2641 branches that are spread across major towns in India, the bank has its head office in Bangalore in India.
In addition, it has international banking presence in several major centers including Shanghai, Hong Kong, Doham, Moscow and Dubai. In terms of optimal performance, the nationalized bank India is one of the biggest and the greatest commercialized financial facility in India. It has a total business output capacity of Rs. 2 trillion. It takes part in corporate social developmental activities including spread of education to the citizens of India.