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Thursday, June 30, 2005

Canara Bank completes 100 yrs

A financial institution, which started as ‘Canara Hindu Permanent Fund’ by Ammembal Subba Rao Pai, has completed 100 years in banking services. Today known as Canara Bank, started its operations on July 1, 1906 with a 2000 shares of Rs 50 each. Over these 100 years, Canara Bank has grown to have total deposits of nearly Rs 100,000 crore with 2512 branches with profits of Rs 1,110 crore.

From a small beginning, Canara Bank has grown into one of the largest banks in India with a wide branch network and client base. Acquisitions of small banks such as Bank of Kerala, Pangal Nayak Bank, have also enabled the bank to achieve growth.

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