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Canara Bank Stock Fundamental Analysis - Financial Results & Equity Research | Investyadnya Stock-o-Meter

Canara Bank

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Sector: Refineries

Market Price

2,529.50

Market Cap(₹Cr.)

2,529.50

-90.00

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Overview

Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through the various phases of its growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties was characterized by business diversification for the Bank. In June 2006, the Bank completed a century of operation in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones. Currently, Canara Bank occupies a premier position in the comity of Indian banks.

Canara Bank has several firsts to its credit, these include:

Launching of Inter-City ATM Network
Obtaining ISO Certification for a Branch
Articulation of 'Good Banking' - Bank's Citizen Charter
Commissioning of Exclusive Mahila Banking Branch
Launching of Exclusive Subsidiary for IT Consultancy
Issuing credit card for farmers
Providing Agricultural Consultancy Services
Businesses of the Bank
Personal Banking: It offers a wide range of products and services such as saving accounts, deposits, loans, mutual funds, Insurance, internet banking, debit card, credit card, etc.
Corporate Banking: It provides various services to its corporate clients such as Cash Management Services, loans, IPO monitoring services, etc.
NRI Banking: Besides various personal banking products it also offers remittance services, consultancy services to its NRI Clients.
SME sector: It also offers various products and services to priority and SME sector.
Awards and Achievements
2017-18:
Received Master card Innovation Award for Canara International Prepaid card under prepaid segment.
“Rupay Special” award for being the highest Rupay card issuing bank by NPCI.
VISA Award on crossing a key milestone on issuance of 1.35 crore VISA debit card.
Bagged FINNOVITI award for Innovation for CANDI Branch.
ASSOCHAM Social Banking Excellence Awards 2017 for Government Sponsored Schemes and Runner-up for Agriculture Banking in the Large Bank Class.
Golden Peacock Award 2017 for Corporate Social Responsibility from Institute of Directors, New Delhi.
Skoch Technologies Growth 2017 for “CANDI”, digital branch.
Excellent Customer Service Award’ at the 5th SME Excellence 2017 by ASSOCHAM.
Best CIO of the Year” by Computer Society of India for “CANDI” an ambitious digital banking project of the Bank in the “IT Innovation & Excellence Awards2017”.
Skoch Smart Security awards 2017 for “SIEM” tool.
Dun and BradStreet Award for 2016-17 adjudging as Best Public Sector Bank-Priority Sector Lending Bank. Consecutively third time (2014-15, 2015-16 and 2016-17) Bank has been receiving this Award.
Certificate of Excellence for exemplary leadership in promoting RSETIs and Certificate of Excellence for RUDSETI for FY15 & FY16.
2018-19:
Central Vigilance Commission has awarded Canara Bank with ‘Vigilance Excellence Award-Outstanding’ under Category ‘Timely Completion of Disciplinary Proceedings’ for the year 2018.
Bank received first runner up award on theme Credit off-take in EASE Banking Reform Awards 2019.
Bank has bagged four awards from the Associated Chambers of Commerce and Industry of India (ASSOCHAM) under Agriculture, Priority sector lending, Social Banking and Technology.
Bank has bagged eight Awards from Public Relations Council Of India (PRCI) including 3 Gold under Television Commercials, Advertising Corporate Campaign RADIO and Advertising Corporate Campaign Television.
NPCI Special Award in recognition of excellent performance in NFS ATM Network, Rupay, CTS & UPI / IMPS.
Bank’s House magazine ‘Shreyas’ bagged Making of Developed India Award sponsored by ET Now for best in house magazine for the year 2018.
Secured Chamber of Indian Micro Small & Medium Enterprises (CIMSME) awards for best bank for promotional schemes (Large category).
Received runner up CIMSME award for best MSME bank (Large category) and financially inclusive bank (Large category).
Secured PFRDA’s best performing PSB award in APY performance and the splendid seven awards for the APY campaign.
2019-20:
Canara Bank has been awarded ‘India’s Most Trusted Public Sector Banking Services Company 2019’ by International Brand Consulting Corporation, USA.
Canara Bank has been awarded ‘SIDBI-ET INDIA MSE AWARD-2019’ under noteworthy Lender to MSE Category - (Public Sector Bank).
Canara Bank received the award for Best Data Quality Management 2018-19 at the Annual Credit Information Conference.
Canara Bank received National award for SHG Bank Linkage 2018-19 (Public Sector Banks) from DAY-NRLM, Ministry of Rural Development.
The bank has been conferred with VISA GLOBAL QUALITY AWARD 2018 for the lowest global frauds reflection its commitment to deliver superior service quality.
DRBT Banking Technology Innovation Contest for CANDI Branch.
Skoch Order of Merit Award 2019 for Canara DiYA, Canara Recovery App, Canara Digital Learning & Social Media Analytics and Campaign management.
Skoch Award 2019 Silver for “Canara DiYA'.
Milestones
1906: Canara Hindu Permanent Fund Ltd. formally registered with a capital of 2000 shares of Rs. 50/- each, with 4 employees.
1910: Canara Hindu Permanent Fund renamed as Canara Bank Limited
1969: 14 major banks in the country, including Canara Bank, nationalized on July 19
1976: 1000th branch inaugurated
1983: Overseas branch at London inaugurated, Cancard (the Bank’s credit card) launched
1985: Takeover of Lakshmi Commercial Bank Limited and Commissioning of Indo Hong Kong International Finance Limited (now a full-fledged branch)
1987: Canbank Mutual Fund & Canfin Homes launched
1989: Canbank Venture Capital Fund started
1989-90: Canbank Factors Limited, the factoring subsidiary launched
1992-93: Became the first Bank to articulate and adopt the directive principles of “Good Banking”.
1995-96: Became the first Bank to be conferred with ISO 9002 certification for one of its branches in Bangalore
2001-02: Opened a 'Mahila Banking Branch', first of its kind at Bangalore, for catering exclusively to the financial requirements of women clientele.
2002-03: Maiden IPO of the Bank
2003-04: Launched Internet Banking Services
2004-05: 100% Branch computerization
2005-06: Entered 100th Year in Banking Service. Launched Core Banking Solution in select branches. Number One Position in Aggregate Business among Nationalized Banks.
2006-07: Retained Number One Position in Aggregate Business among Nationalized Banks. Signed MoUs for Commissioning Two JVs in Insurance and Asset Management with international majors viz., HSBC (Asia Pacific) Holding and Robeco Groep N.V respectively.
2007-08: Launching of New Brand Identity. Incorporation of Insurance and Asset Management JVs. Launching of 'Online Trading' portal. Launching of a ‘Call Centre’. Switchover to Basel II New Capital Adequacy Framework.
2008-09: The Bank crossed the coveted Rs. 3 lakh crore in aggregate business. The Bank’s 3rd foreign branch at Shanghai commissioned.
2009-10: The Bank’s aggregate business crossed Rs. 4 lakh crore mark. Net profit of the Bank crossed Rs. 3000 crore. The Bank’s branch network crossed the 3000 mark.
2010-11: The Bank’s aggregate business crossed Rs. 5 lakh crore mark. Net profit of the Bank crossed Rs. 4000 crore. 100% coverage under Core Banking Solution. The Bank’s 4th foreign branch at Leicester and a Representative office at Sharjah, UAE, opened. The Bank raised Rs. 1993 crore under QIP. Govt. holding reduced to 67.72% post QIP.
2011-12: Total number of branches reached 3600. The Bank’s 5th foreign branch at Manama, Bahrain opened.
2012-13: Highest Dividend of 130% paid for the year
2013-14: 1027 branches and 2786 ATMs opened during the year. Global business crossed the Rs.7 lakh crore milestone. Switchover to Basel III New Capital Adequacy Framework. Branch Network and Atms increased to 4755 branches and 6312 ATMs.
2014-15: Global Business of the Bank crossed Rs.8 lakh crore.
2015-16: The Bank’s 8th foreign branch at DIFC (Dubai) opened.
2016-17: Branch network crossed 6000 milestones.Total number branches rose to 6083.Canara Bank (Tanzania) Ltd., a foreign subsidiary, opened.
2017-18: Global Business of the Bank crossed Rs.9 lakh crore.
2018-19: Global Business of the Bank crossed 10 lakh crore, Bank issued 2 core new equity shares to employees under Canara Bank Employee Share Purchase scheme (CanBank-ESPS).
2019-20: Domestic Business of Canara Bank crossed Rs. 10 Lakh Crore.

Canara Bank is a state-owned commercial bank that was started on July 1, 1906, with Canara Hindu Permanent Fund Ltd. The Bank’s name was changed to Canara Bank Ltd from Canara Hindu Permanent Fund Ltd in 1910. It deals in 4 segments: retail banking operations, treasury operations, wholesale banking operations, & other banking operations. It offers an array of products & services to the customers. It has accomplished a century of operation in the Indian banking industry in the year 2006.

It has a strong pan India catering to all segments of an ever-growing clientele. It has eight branches, one each in London, Leicester, Hong Kong, Shanghai, Manama Johannesburg, New York, DIFC (Dubai) & a Representative Office at Sharjah UAE. It offers several services to its corporate clients like loans, Cash Management Services, IPO monitoring services, & more. It also provides consultancy services, remittance services to its NRI clients. It has been expanding its market position to emerge as a significant 'Financial Conglomerate' with as many as 10 subsidiaries/sponsored institutions/joint ventures in India and abroad.

MERGERS AND ACQUISITIONS

Canara Bank was merged with Syndicate Bank & the Government of India approved the amalgamation globally.

SERVICES

Here are the services provided by Canara Bank:

Personal Banking: It provides an extensive array of products & services like deposits, saving accounts, loans, Insurance, mutual funds, internet banking, debit card, credit card, & more.
Corporate Banking: It offers several services to its corporate clients like loans, Cash Management Services, IPO monitoring services, & more.
NRI Banking: Apart from several personal banking products, it also provides consultancy services, remittance services to its NRI clients.

AWARDS AND RECOGNITIONS
Received Global CSR Excellence & Leadership Awards
Received the Best Home Loan Provider Award 
Received NFS Operational Excellence Award 
Received Corporate Collateral Awards under several categories by Public Relations Council of India
Received Golden Peacock Award for excellence in the category of Corporate Social Responsibility 
Received Greentech Award for excellence in the category of Corporate Social Responsibility 
Received Skoch Renaissance Award 
Received the Best Bank Award for implementation of Rural Self Employment Training Institutes 
Received Golden Peacock Global Award for Corporate Social Responsibility
Received FIPS Excellence Award under DBT Category for the project- Direct Benefit Transfer LPG 
Received Hindi Rajbhasha Samrakshak Ratna’ Award 
Received the Best Bank of the Year Award 
Received the Best Financial Institution in the category of Gold in the Export Excellence Awards 
Received the Best Bank Award for Implementing RSETIs in the Country 

MILESTONES
In 1983: It inaugurated an overseas branch in London. 
In 1984: Merged with the Lakshmi Commercial Bank Limited
In 1987: It introduced Canbank Mutual Fund & Canfin Homes. 
In 1989: It started Canbank Venture Capital Fund. 
During 1995-1996, it became the 1st bank granted with ISO 9002 certification for one of its branches in Bangalore.
During 2003-2004: It set up Internet Banking Services.
During 2005-2006: It introduced Core Banking Solution in selected branches & got 1st position in Aggregate Business among Nationalized Banks. It has set up a Call Centre & online Trading portal.

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Brands Of Canara Bank

Brands Of Canara Bank

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