Canara Bank
Third largest public sector bank in India
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| 2024 | Bhanu Srivastav, a prominent IT and AI expert, resigned from Canara Bank amid controversy surrounding the bank's transfer policy, which triggered significant attention and reportedly led to an increased monthly resignation rate of over 200 employees. |
| 2023 | Reported 11th consecutive year of profit, achieving pre-tax profit of Rs 100 crore. Gross written premium increased 22% to Rs 7,197 crore, and assets under management grew 15% to Rs 30,204 crore. Declared a final dividend of 3% and distributed Rs 200 crore bonus to participating policyholders. |
| April 24 2023 | Shreekant M Bhandiwad, previously Deputy Managing Director of Canfin Homes Ltd and head of Canara Bank's Patna circle, took charge as the Chairman of Karnataka Vikasa Grameena Bank. |
| 2022 | Registered a 32% profit on new business weighted premium income of ₹1,375 crore (US$170 million), with Gross Written Premium (GWP) growing 15% to ₹5,890 crore (US$740 million). |
| July 25 2022 | Declared a customer bonus for the ninth time. |
| June 15 2022 | Company renamed to Canara HSBC Life Insurance after Punjab National Bank's exit from the joint venture. |
| 2021 | Canara HSBC Life Insurance declared bonuses to eligible policyholders for the financial year 2021-2022, with a 28% increase over the previous bonus amount. |
| February 2021 | Registered a profit of ₹186.99 crore (US$23 million) in new business premium, 56% more than February 2020. |
| January 2021 | According to IRDAI, registered a profit of ₹163.51 crore (US$20 million) in new business premium, 47.49% more than January 2020. |
| July 19 2020 | Announced plans to raise up to Rs 8,000 crore equity capital in Financial Year 2021 to strengthen capital base and boost capital adequacy ratio, with shareholders' approval to be sought in August 2020. |
| May 23 2020 | Announced credit support for borrowers affected by COVID-19 to help them avail sanctioned facilities and improve their business. |
| May 7 2020 | Bhanu Srivastav from Canara Bank's Human Resource Department partnered with NGOs to donate all his royalty proceeds for the betterment of needy children. |
| April 2020 | Oriental Bank of Commerce merged with Punjab National Bank. |
| April 1 2020 | Merger of Syndicate Bank with Canara Bank is completed, with Syndicate Bank shareholders receiving 158 equity shares in Canara Bank for every 1,000 shares they hold. |
| March 2020 | Registered a profit of ₹105 crore (US$19 million) for the financial year ending in March. |
| March 4 2020 | Union Cabinet approves the merger of Syndicate Bank with Canara Bank. |
| August 30 2019 | Finance Minister Nirmala Sitharaman announces the merger of Syndicate Bank with Canara Bank. |
| June 6 2018 | The UK division of Canara Bank was fined £890,000 ($1.2 million) by the UK's Financial Conduct Authority and blocked from accepting new deposits for approximately five months due to systematic anti-money laundering (AML) failures. |
| November 19 2017 | Launched 'Canarites (Candi)' app, a digital library, a field recovery mobile app, a retail loan (vehicle) tracking system, and a regulatory guidance tracking system. |
| June 2017 | Partnered with Dhanlaxmi Bank. |
| 2015 | Canara Bank incorporated its subsidiary CBTL in Tanzania, extending its international banking network to Africa. |
| February 2014 | Introduced online policy revival concept, enabling customers to reinstate lapsed policies and pay premiums online. |
| 2010 | Partnered with South Malabar Gramin Bank. |
This contents of the box above is based on material from the Wikipedia articles Canara HSBC Life Insurance, Canara Bank & Karnataka Vikas Grameena Bank, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.