Canara Bank

About Canara Bank

Founded in 1906 in Mangalore by Ammembai Subba Rao Pai. Canara Bank started as the Canara Hindu Permanent Fund, helping local communities save money. The bank was nationalized in 1969 along with 13 other major Indian banks. Canara Bank has over 10,000 branches and 100 million customers. The bank acquired Syndicate Bank in 2020, creating the fourth largest public sector bank in India. Canara Bank finances agriculture, small businesses, and infrastructure. Like other Indian public sector banks, Canara has struggled with non performing assets, particularly in infrastructure lending. The government has recapitalized the bank multiple times.