Canara Bank or CANBK
It provides various aspects and services to its corporate clients such as Cash Management Services, loans, IPO monitoring services, etc. NRI Banking– Besides different personal banking products, it also offers remittance services, consultancy services to its NRI Clients. It also provides various products and services to both the priority as well as the SME sector.
The particular Bank has gone through various phases of its growth trajectory over a hundred years of its existence. And the growth of Canara Bank was phenomenal, especially after the time of nationalization in the year 1969, it attained the status of a national level player in terms of both the geographical reach and clientele segments. The business diversification for the Bank characterized the Eighties. Soon in June 2006, the Bank completed a century of operation in the Indian banking industry. Several significant milestones have marked the eventful journey of the Bank. Currently, the Canara Bank occupies a premier position among the comity of all the Indian banks.
Over the years, it has been scaling up its market position to emerge as a significant 'Financial Conglomerate' with as many as approximately nine subsidiaries or sponsored institutions or joint ventures in India and abroad. As of June 2011, it has further expanded its domestic presence with nearly 3273 branches spread across the globe. And keeping the customer convenience as a priority, the Bank also provides a wide range of alternative delivery channels which includes 2509 ATMs, covering 846 centers.
Along with 100% CBS, this particular Bank also offers technology banking with facilities such as Internet Banking, Mobile Banking and Funds Transfer via NEFT and RTGS across all of its branches. It has further enhanced its basket of new tech–products for the customer convenience such as Canara Gift Cards, Canara Platinum Card, Canara Campus Card, Cash withdrawal at Point of Sale (PoS) machines at Merchant Establishments, Bills Desk for utility bills payment, VISA money transfer and the ASBA also known as Application Supported by Blocked Amount facility during FY11.
Types of Businesses:
- Personal Banking– It offers various facilities and a wide range of products and services which include saving accounts, deposits, loans, Insurance, mutual funds, internet banking, debit card, credit card, and so much more.
- Corporate Banking– In this business, it provides various facilities to its corporate clients, which include Cash Management Services, loans, IPO monitoring services, and so much more.
- NRI Banking– It includes personal banking products but also offers remittance services and consultancy services to its NRI Clients. It also provides various products and facilities to the priority and SME sector.
- Canara Robeco Asset Management Company
- Canbank Financial Services
- Canara Bank Securities
- Canbank Computer Services
- Can Fin Homes
- Canbank Factors
- Canbank Venture Capital Fund
- 2007–08: It launched a New Brand Identity and incorporation of Insurance and Asset Management JVs
- 2005–06: It launched an 'Online Trading' portal, a 'Call Centre' and Switchover to Basel II New Capital Adequacy Framework
- 2008–09: The Bank crossed the coveted 3 lakh crore in aggregate business, and the Bank's 3rd foreign branch at Shanghai commissioned
- 2009–10: The Bank's aggregate business crossed 4 lakh crore mark. And the net profit of the Bank passed 3000, and the Bank's branch network crossed the 3000 mark.