Tag Archives: Canara Bank

Panels overseeing smooth merger of Canara Bank, Syndicate Bank

Reported by | Updated: December 9, 2019

The proposed 2-way merger of Canara Bank and Syndicate Bank in on course and the thrust is on the integration of HR and technology, according to officials of Canara Bank, overseeing the merger process. The 2 banks have set up several committees for handling the various aspects of the merger, besides appointing legal and financial […]

Canara Bank to cut stake in housing subsidiary

Reported by | Updated: December 9, 2019

Canara Bank will sell 30% of its stake in Can Fin Homes. News reports suggested that the sale in nearing completion and the deal is at Rs 450 per share against current market price of Rs 415. Several private equity players are in vying to buy the shares. The bank had invited bids for the […]

Canara Bank introduces OTP for ATM withdrawals

Reported by | Updated: August 28, 2019

Canara Bank has introduced OTP facility for ATM withdrawals, the first of its kind in the country. The bank said the intention of such a move was to make the withdrawals safer. The bank will activate OTP facility for cash withdrawals of Rs 10,000 or more in a day. The Reserve Bank of India had […]

Manimekhalai is ED at Canara Bank

Reported by | Updated: February 18, 2019

Canara Bank has a new executive director. A. Manimekhalai, who was a general manager at Vijaya Bank has been appointed ED at Canara Bank. She has been with Vijaya Bank since 1988 and has 3 decades of varied banking experience – in branch banking, at the regional offices and as functional head of various departments […]

Chairmen of Canara Bank, Bank of India get extension

Reported by | Updated: August 14, 2018

The government has extended the terms of office of non-executive chairmen of 2 public sector banks – Canara Bank and Bank of India. Accordingly, T.N. Manoharan will continue to be non-executive chairman of Canara Bank for a period of 2 years and G. Padmanabhan will continue at Bank of India for a similar period. The […]

UK regulator fines Canara Bank for AML breaches

Reported by | Updated: June 8, 2018

Financial sector regulator in the UK, Financial Conduct Authority, has imposed a fine of 896,100 pounds (about Rs 8 crore) on the London branch of Canara Bank for not adhering to anti-money laundering regulations. The regulator has also stopped the bank from accepting deposits for nearly 5 months. The bank said in a filing with […]

Canara Bank restructures branches abroad

Reported by | Updated: April 9, 2018

Canara Bank has decided to close its 3 foreign branches – Leicester (UK), Bahrain, and Shanghai – and sell its 50% stake to State Bank of India in Russia as part of restructuring its branches abroad. The bank has 8 foreign branches – at London, Leicester, Hong Kong, Shanghai, Manama, Johannesburg, New York, and DIFC […]

Canara Bank calls off plan to sell stake in housing arm

Reported by | Updated: April 2, 2018

Canara Bank said it has called off its plan to divest its entire stake in Can Fin Homes. The bank said in a stock exchange filing the quotes it received were not in tune with the valuations it was seeking. The bank was proposing to divest 30% stake in the home loan unit and had […]

Canara Bank to sell non-core assets

Reported by | Updated: November 22, 2017

Canara Bank is proposing to sell stake in its asset management and housing finance units. The board of the bank has formally approved the proposal, which envisages selling the stakes either fully or partially. The bank wants to better its resources and improve the capital base. The bank’s board has also approved divestment of stake […]

Canara Bank has 2 robots to attend to customers

Reported by | Updated: September 25, 2017

Canara Bank has introduced robots for customer care at two of its offices in Bengaluru. Doing services are Mitra, a humanoid developed by a Bengaluru-based company Invento Robotics, and Candi, which is introduced in collaboration with Japan’s SoftBank Robotics. While Mitra greets customers at the bank’s head office in the city in Kannada and helps […]

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