Canara Bank is an Indian public sector bank based in Bengaluru. Established in 1906 in Mangalore by Ammembal Subba Rao Pai, the bank was nationalized in 1969. Canara Bank also has offices in London, Dubai and New York.[4]
History
Ammembal Subba Rao Pai, a philanthropist, established the Canara Hindu Permanent Fund in Mangalore, India, on 1 July 1906.[5]
Canara Bank's first acquisition took place in 1961 when it acquired the Bank of Kerala. Founded in September 1944, the Bank of Kerala had three branches at the time of its acquisition on 20 May 1961. The second bank acquired was Seasia Midland Bank (Alleppey), which had been established on 26 July 1930 and had seven branches at the time of its takeover.[6]