Canara Bank

What Canara Bank does

Canara Bank is one of India's oldest and largest public sector commercial banks, founded in 1906 by Sri Ammembal Subba Rao Pai and now headquartered at 112 J C Road, Bengaluru. It operates as a Government of India undertaking, publicly listed on NSE/BSE under the ticker CANBK, and was formed in its current large scale through the 1996 merger with Syndicate Bank. The bank serves a diversified set of customer segments — retail individuals, non-resident Indians (NRIs), micro/small/medium enterprises (MSMEs), the agricultural sector, large corporations, and government and public sector entities — through an omnichannel footprint that combines a PAN India branch network, 11,000+ ATMs, and digital channels including the 'Canara ai1' mobile application, internet banking, and UPI/BHIM integration via NPCI. Doorstep banking is delivered through the multi-bank PSB Alliance platform, and a wholly-owned subsidiary, Canara Bank Securities Limited (CBSL), provides depository, online trading, and merchant banking services, complemented by a Canara HSBC Life Insurance joint venture.

The bank generates revenue primarily through net interest income on its lending book — home loans starting at 7.15% p.a., car loans at 7.45% p.a., education loans at 6.75% p.a., MSME loans at 8.25% p.a., gold loans at 8.85% p.a., and e-GST financing at 9.05% p.a. — and through liability-spread income on deposits, including a 555-day special FD range of 6.60% to 7.25% and FCNR(B) deposits for NRIs up to 6.5% on US dollar holdings. FY25 net profit is reported as approaching ₹20,000 crore, and market capitalization stands at ~₹1.45 lakh crore, supported by recurring capital actions including ₹5,000 crore of Long Term Infrastructure Bonds (Sept 2023), ₹10,000 crore of infrastructure bonds (July 2024), and an ₹8,500 crore Basel III compliant bond plan approved for FY26-27. Leadership transitioned in 2025-2026 from K. Satyanarayana Raju to Brajesh Kumar Singh as Managing Director and CEO (effective May 30, 2026).

Name

Canara Bank

Legal name

Canara Bank

Website

https://canarabank.bank.in

Company type

Public

Founded year

1906

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Canara Bank is a Government of India public sector commercial bank founded in 1906, providing retail, NRI, MSME, agricultural, corporate, and government banking services across India through a pan-India branch network, 11,000+ ATMs, and digital banking channels.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

National Commercial Banks (6021), State Commercial Banks (6022), Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

akta.pro secondary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Retail banking services
• Commercial banking
• NRI banking services
• Digital payment systems
• MSME lending

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Pricing tiers

Distribution channels7 records

Marketing channels10 records

Core offering

Canara Bank is a public sector commercial bank providing a comprehensive suite of retail and corporate banking products including savings accounts, current accounts, term deposits, home/vehicle/education/personal/mortgage/gold loans, NRI banking services, MSME and agricultural credit, and digital banking through the Canara ai1 mobile app and internet banking platform with UPI/BHIM integration. It serves individual consumers, NRIs, micro/small/medium enterprises, agricultural borrowers, large corporates, and government/public sector clients across India with a pan-India branch network and 11,000+ ATMs.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Bank Account Core retail savings account product offered by Canara Bank with multiple variants (Canara Aspire, Angel, Premium Payroll Packages, SB Select, Senior Citizen, Jeevandhara, SB Power Plus, SB Galaxy, Champ, Junior Saving Account, Basic/Small/NSIGSE Savings, gigstar) targeted at individual consumers across segments including salaried, seniors, students, and gig workers.
• Current Account Business transaction accounts offered by Canara Bank with variants such as Canara Privilege, Canara RERA (for real estate), Canara Delite, Canara Elite, Canara Prarambh, and Canara TruEdge targeting businesses, professionals, and high-transaction-volume customers.
• Term Deposits (Fixed Deposit, Kamadhenu, Tax Saver, Recurring, Dhanvarsha, Nitya Nidhi, 444 Days, 555 Days, Green Deposit) Fixed and recurring deposit products for individual and institutional customers, including 555-Day Special FD (rates 6.60% to 7.25%), Kamadhenu Deposit, Tax Saver Scheme, Recurring Deposits, Canara Dhanvarsha, Nitya Nidhi Deposit, 444-Day Deposit, and Canara Green Deposit (for ESG financing).
• Housing Loan Retail housing loan product starting at 7.15% p.a., with specialized variants including Housing cum Solar Loan, Canara Kuteer, Housing Loan to Agriculturists, Home Loan for NRIs, Canara Apna Ghar, and PMAY-linked offerings for individual home buyers and NRIs.
• Vehicle Loans (Canara Vehicle, Green Wheels, Vehicle to Agriculturists) Vehicle/car loan products starting at 7.45% p.a., with variants including Canara Vehicle, Canara Green Wheels (for eco-friendly vehicles), and Canara Vehicle to Agriculturists, serving retail and agricultural vehicle buyers.
• Education Loans (Vidya Turant, IBA Skill Loan, IBA Model Education Loan, Interest Subsidy, Masters Degree, Pradhan Mantri Vidyalaxmi) Education loan products starting at 6.75% p.a., including Vidya Turant, IBA Skill Loan Scheme, IBA Model Education Loan Scheme, Interest Subsidy Educational Loans, Masters Degree Education Loan, and Pradhan Mantri Vidyalaxmi Scheme, targeting students pursuing higher education and skill development in India and abroad.
• Personal Loans (Canara Insta MF, Ready Cash, Heal, My Money, Home Loan Plus, Budget, Pension, Cash) Personal loan suite including Canara Insta MF Loan, Canara Ready Cash, Canara Heal (medical needs), Canara My Money, Canara Home Loan Plus, Canara Budget, Canara Pension, and Canara Cash, addressing diverse personal credit needs of individual customers.
• Mortgage Loans (Canara Mortgage, Jeevan, Rent, Site Loan, Rain Water Harvesting) Mortgage-backed loan products including Canara Mortgage, Canara Jeevan, Canara Rent (rental income financing), Canara Site Loan (plot purchase), and Rain Water Harvesting loan, secured against property for individual borrowers.
• Gold Loans (Swarna Express, Loans against Gold) Loan against gold collateral starting at 8.85% p.a., with flagship product Swarna Express and additional gold-backed loan variants serving individual borrowers seeking secured short-term credit.
• MSME Loans MSME-focused loan products starting at 8.25% p.a., covering working capital, machinery finance, and e-GST Financing at 9.05% p.a., targeting micro, small and medium enterprises for business credit needs.
• Canara ai1 Mobile Banking Application AI-powered mobile banking application for retail and corporate customers, available on Google Play and Apple App Store, providing self-service access to accounts, fund transfers, UPI payments, and digital banking services.
• NRI Banking Services (NRE/NRO Accounts, FCNR(B) Deposits, Remittances) Banking services for Non-Resident Indians including NRE/NRO accounts, FCNR(B) Deposits (up to 6.5% for USD), remittance services, and dedicated NRI home loan product.
• Merchant Banking and Depository Services (via Canara Bank Securities Limited - CBSL) Merchant banking, depository services (demat accounts), online trading, and ASBA facility offered through wholly owned subsidiary Canara Bank Securities Limited (CBSL), integrating securities and banking services for customers.
• Canara HSBC Life Insurance Life insurance products offered through Canara HSBC Life Insurance, a joint venture in which Canara Bank holds an interest, providing insurance solutions distributed via the bank's branch and digital channels.
• Doorstep Banking Services (via PSB Alliance) Doorstep banking services delivered through the PSB Alliance platform enabling senior citizens and differently-abled customers to access core banking services at their residence.

Quantifiable outcome

• Stock return of 29.21% over the past year
• +2 more outcomes

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• NBCC (National Buildings Construction Corporation)minorStrategic or Co-development PartnerCanara Bank contracted NBCC for construction of residential building in Mumbai worth ₹39.99 crore. This is a construction services partnership for bank-owned properties.
• RUDSETI (Rural Development and Self Employment Training Institute)coreStrategic or Co-development PartnerPartnership for rural development and self-employment training programs. Supports skill development and entrepreneurship in rural areas through training and credit linkage.
• Canara Bank Securities Limited (CBSL)coreTechnology or IntegrationWholly owned subsidiary providing depository services. Offers integrated securities and banking services to customers.
• BHIM/NPCI (National Payments Corporation of India)coreTechnology or IntegrationCanara Bank integrates its technical stack with BHIM app for UPI payments. Provides digital payment infrastructure and interoperability.
• PSB AlliancecoreChannel Partner/ Reseller/ DistributorDoorstep Banking Services through PSB Alliance platform, enabling delivery of banking services to customers at their doorstep, particularly senior citizens and differently-abled.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• State Bank of India: India's largest public sector bank, offering identical retail, MSME, agricultural, NRI, and corporate banking services. Most directly comparable to Canara given shared PSU ownership, RBI oversight, and nationwide branch footprint.
• Punjab National Bank: Indian public sector bank of comparable scale offering retail, MSME, agriculture, and corporate banking. Directly competes with Canara across priority-sector lending and government salary accounts.
• Bank of Baroda: Public sector bank with similar national footprint and product suite spanning retail, MSME, NRI, and corporate banking. Comparable scale and product overlap make it a near-direct competitor to Canara.
• Union Bank of India: Public sector bank resulting from the Andhra Bank-Corporation Bank merger, with overlapping retail, MSME, agriculture, and corporate banking offerings directly competitive with Canara.
• Indian Bank: Public sector bank with strong South India presence and similar PSU governance structure. Directly comparable retail/MSME/agriculture offering; relevant since Canara's incoming MD&CEO previously served as Indian Bank's Executive Director.
• Bank of India: National public sector bank with pan-India branches competing in retail, MSME, and corporate banking. Similar PSU ownership and regulatory framework make it a closely comparable peer.

Broad incumbents

• HDFC Bank: India's largest private sector bank offering retail, MSME, and corporate banking with superior digital capabilities. Competes with Canara for urban retail and SME customers and sets the benchmark for PSU banks' digital and product modernization.
• ICICI Bank: Major private sector bank with broad retail, MSME, and corporate offerings plus strong digital platform (iMobile). Competes with Canara across product categories and represents the private-sector benchmark on digital banking.
• Axis Bank: Large private sector bank competing with Canara across retail, MSME, and corporate banking with strong digital capabilities. Comparable scale in urban retail lending and digital channels.
• Kotak Mahindra Bank: Private sector bank offering retail, MSME, and corporate banking with a strong digital platform (Kotak 811). Competes with Canara for digitally-engaged retail and SME customers in urban markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/canarabanktweet
• YouTubeyoutube.com/channel/UCDDwYBs7MvNWyWLBPMoi8-w
• Facebookfacebook.com/canarabank
• LinkedInlinkedin.com/company/canara-bank
• Instagraminstagram.com/canarabankinsta
• Pinterestin.pinterest.com/canarabankofficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds6 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Canara Bank