The Hindu : New Delhi News : Canara Bank all set to enter Centenary Year

Online edition of India's National Newspaper
Tuesday, Sep 27, 2005

New Delhi

New Delhi

Canara Bank all set to enter Centenary Year

Madhur Tankha

NEW DELHI: It may have begun as a small neighbourhood fund but Canara Bank is all set now to step into its Centenary Year on July 1, 2006. As a prelude to the historic occasion, the bank -- which is hosting yearlong celebrations from July 1, 2005, to June 30, 2006 -- organised a grand function at Siri Fort Auditorium here over the weekend.

The Canara Hindu Permanent Fund was formed in the small port town of Mangalore in Karnataka in 1906 to nurture and blossom the aspirations of the common man. The fund had originated due to the efforts of Ammembal Subba Rao Pai, who was committed to philanthropy. He wanted to bring about social reforms in society and had the ability to think beyond the conceivable.

Even though Canara Bank started out with a share capital of Rs.10,000, today it is one of the leading banks of the country. With a branch network in excess of 2,500 and all of them in computerised mode, the bank boasts of an aggregate business level of about Rs.1,57,300 croresIn the coming years, the bank has plans to set up another 10 to 15 branches in the Capital. As many as 68 branches across the Capital have been certified under ISO 9001-2000.

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