17 Facts About Canara Bank

Canara Bank is a central public sector undertaking under the ownership of Ministry of Finance, Government of India It is headquartered in Bangalore.

The second bank that Canara Bank acquired was Seasia Midland Bank, which had been established on 26 July 1930 and had seven branches at the time of its takeover.

Canara Bank acquired four banks in 1963: the Sree Poornathrayeesa Vilasam Bank, Thrippunithura, Arnad Bank, Tiruchirapalli, Cochin Commercial Bank, Cochin, and Pandyan Bank, Madurai.

Sree Poornathrayeesa Vilasam Canara Bank had been established on 21 February 1923 and at the time of its acquisition it had 14 branches.

Arnad Canara Bank had been established on 23 December 1942 and at the time of its acquisition had only one branch.

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Cochin Commercial Canara Bank had been established on 3 January 1936, and at the time of its acquisition had 13 branches.

In 1996, Canara Bank became the first Indian Bank to get ISO certification for "Total Branch Banking" for its Seshadripuram branch in Bangalore.

Canara Bank has now stopped opting for ISO certification of branches.

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.

Later Canara Bank established a branch each in Leicester and Bahrain, and converted its Hong Kong subsidiary into a branch.

Since 1983, Canara Bank has been responsible for the management of Eastern Exchange Co.

Canara Bank partnered with UNEP to initiate a solar loan program.

Canara Bank offers Unified Payment Interface app named “empower”.

On 7 May 2020, Bhanu Srivastav from Canara Bank, partnered with NGOs to donate all his royalty proceeds for the betterment of needy children.

On 23 May 2020, Canara Bank announced credit support for borrowers affected by COVID-19 to enable them to avail the sanctioned facilities to the full extent and improve their business.

The Canara Bank will seek nod from shareholders for the same in its AGM in August 2020.