ASSIGNMENT ON FINANCIAL SERVICES AND MARKET

TOPIC Canara bank

Submitted by:Ashok Pandit Pgdm(2nd yr) Reg no:- 1001247129

COMPANY PROFILE
Canara Bank is a state-owned financial services company in India.Widely known for customer centricity, 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. Today, Canara Bank occupies a premier position in the comity of Indian banks. With an unbroken record of profits since its inception, 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 Banks Citizen Charter Commissioning of Exclusive Mahila Banking Branch Launching of Exclusive Subsidiary for IT Consultancy

Over the years, the Bank has been scaling up its market position to emerge as a major 'Financial Conglomerate' with as many as nine subsidiaries/sponsored institutions/joint ventures in India and abroad. As at September 2011, the Bank has further expanded its domestic presence, with 3432 branches spread across all geographical segments. Keeping customer convenience at the

forefront, the Bank provides a wide array of alternative delivery channels that include 2623 ATMs, covering 899 centres. With 100% CBS, the Bank offers technology banking, such as, Internet Banking and Funds Transfer through NEFT and RTGS across all branches. The Bank has further enhanced its basket of new tech-products for customer convenience like Canara Gift Cards, Canara Campus Card, Canara Platinum Card, Bills Desk for utility bills payment, Cash withdrawal at Point of Sale (PoS) machines at Merchant Establishments, VISA money transfer and the ASBA (Application Supported by Blocked Amount) facility during FY11. KEY FACTS ABOUT CANARA BANK

Type : Headquarter: Industry Founded

Public Bangalore, Karnataka Banking and financial services Canara Bank Hindu Permanent Fund(1906) Canara Bank Ltd(1910) Canara Bank(1969)

Key people Revenue

Sunderrajan Raman(CMD) 25,767.05 crore (US$5.23 billion)(2010-11) US$ 1.0 billion (2010) US$ 48.8 billion (2010) 44,090 (2010)

Net Income Total Assests Total Employee

HISTORY
Ammembal Subba Rao Pai, a philanthropist, established the Canara Hindu Permanent Fund in Mangalore, India, on 1 July 1906.[2] The bank changed its name to Canara Bank Limited in 1910 when it incorporated. In 1958, the Reserve Bank of India ordered Canara Bank to acquire G. Raghumathmul Bank, in Hyderabad. This bank had been established in 1870, and had converted to a limited company in 1925. At the time of the acquisition G. Raghumathmul Bank had five branches.[3] The Government of India nationalised Canara Bank, along with 13 other major commercial banks of India, on 19 July 1969. In 1976, Canara Bank inaugurated its 1000th branch. In 1983, Canara Bank opened its first overseas office, a branch in London. In 1985, Canara Bank acquired Lakshmi Commercial Bank in a rescue. In 1985, Canara Bank established a subsidiary in Hong Kong, Indo Hong Kong International Finance. In 1996 Canara Bank became the first Indian Bank to get ISO certification for Total Branch Banking for its Seshadripuram branch in Bangalore. Canara Bank has now stopped opting for ISO certification of Branches. In 2008-9, Canara Bank opened its third foreign operation, this one a branch in Shanghai.

Founding Principles
1. To remove Superstition and ignorance. 2. To spread education among all to sub-serve the first principle. 3. To inculcate the habit of thrift and savings. 4. To transform the financial institution not only as the financial heart of the community but the social heart as well. 5. To assist the needy. 6. To work with sense of service and dedication. 7. To develop a concern for fellow human being and sensitivity to the surroundings with a view to make changes/remove hardships and sufferings.

KEY PEOPLE
Managing director and chairman shri S. Raman Executive Director Smt Archana S. Bhargava Executive Director- Shri Ashok Kumar Gupta Shareholder Director- Shri. Sunil Gupta Officer Employee Director- Shri.G.V. Manimaran

BANK BRANCHES AND OFFICES

In India: Canara Bank Branches all over India. Its branches in Mumbai, Kolkata, Bangalore, Jammu, Delhi, Ranchi, Patna, Bhubaneswar etc. Bank Branches in overseas

Canara Bank, London Branch Canara Bank, Leicester Branch Canara Bank Hong Kong Branch

Canara Bank Shanghai Branch Canara Bank Sharjah Representative Office, UAE Commercial Bank Of India LLC Al Razouki Internation Exchange Co

Subsidaries Companies:

Canfin Homes Limited Canbank Factors Limited Canbank Venture Capital Fund Limited Canbank Computer Services Limited Canara Bank Securities Limited Canara Robeco Asset Management Company Limited Canbank Financial Services Limited Canara HSBC Oriental Life Insurance Company Limited

VISION & MISSION

Vision To emerge as a Best Practices Bank by pursuing global benchmarks in profitability, operational efficiency, asset quality, risk management and expanding the global reach. Mission To provide quality banking services with enhanced customer orientation, higher value creation for stakeholders and to continue as a responsive corporate social citizen by effectively blending commercial pursuits with social banking.

AWARDS AND ACHIEVEMENTS

In 2011-2012 ,The Bank was conferred with National Award - 2011 for excellence in the field of Khadi and Village Industries - Best Bank, South Zone for PMEGP.

 In 2009-2010, Canara Bank bags Indira Gandhi Rajbhasa . The Bank has been conferred with the Second Best Bank Award under National Awards for Excellence in lending to Micro Enterprises for the year 2009-10, by the Ministry of MSME and Outstanding Performer at National level for implementation of Interest Subsidy Eligibility Scheme (ISEC) of KVIC in the country for 2009-10. i. The Bank was conferred 4 awards by the Public Relations Council of India (PRCI), in the following categories ii. iii. iv. v. Silver Award for Corporate Film ( TV Commercial ) English Bronze Award for House Journal/Magazine Languages Bronze Award for Table Calendar Bronze Award for Corporate Advertisement Single - English

PRODUCTS AND SERVICES

1.Personal Banking Savings and Deposits Saving bank account SB gold loan Recurring Deposits Canara Champ Current Deposit Loan Products Housing Loan Canara Pension Canara Jeevan Home Improvement Loan

Mutual Funds Canara ROBECO Mutual Fund Products HDFC Mutual Fund Products

Life Insurance Future Smart Plan Insure Smart Plan Canara HSBC Oriental Bank Of Commerce Life Secure Smart Plan Canara HSBC Oriental Bank Of Commerce Life Term Plan

Ancillary Services Retail sale of gold coins Safe Custody Services

2. Corporate Banking Accounts and Deposits Kamdhenu Deposit Recurring Deposits Fixed Deposits Current Deposit Loan and Advances Term Loan Fair Practices Code Export Finance Working Capital Finance Infrastructure Financing

Cash Management Services Superfast Service Fast track Service Bulk Collection Service

3. NRI Banking Deposits Product Non Resident External Rupee account Non Resident Ordinary Accounts Foreign Currency Non Resident Accounts Resident Foreign Currency Loan and Advances Housing Loan Canara Rent Canara Site Loan Canara Mortgage Remittances Facilities Swift Lock Box Service Bank- Western Union Remittances Remit Money- Web Based Speed Remittance Facility 4. Internet Banking 5.Priority and SME Banking

SIGNIFICANT MILESTONES
Year

1st July 1906 1910 1969 1976 1983 1984 1985 1987 1989 1989-90 1992-93 1995-96 2001-02 2002-03 2003-04 2004-05 2005-06

Canara Hindu Permanent Fund Ltd. formally registered with a capital of 2000 shares of 50/- each, with 4 employees. Canara Hindu Permanent Fund renamed as Canara Bank Limited 14 major banks in the country, including Canara Bank, nationalized on July 19 1000th branch inaugurated Overseas branch at London inaugurated Cancard (the Banks credit card) launched Merger with the Laksmi Commercial Bank Limited Commissioning of Indo Hong Kong International Finance Limited Canbank Mutual Fund & Canfin Homes launched Canbank Venture Capital Fund started Canbank Factors Limited, the factoring subsidiary launched Became the first Bank to articulate and adopt the directive principles of Good Banking. Became the first Bank to be conferred with ISO 9002 certification for one of its branches in Bangalore Opened a 'Mahila Banking Branch', first of its kind at Bangalore, for catering exclusively to the financial requirements of women clientele. Maiden IPO of the Bank Launched Internet Banking Services 100% Branch computerization Entered 100th Year in Banking Service. Launched Core Banking Solution in select branches. Number One Position in Aggregate Business among Nationalized Banks. 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. 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. The Bank crossed the coveted 3 lakh crore in aggregate business. The Banks 3rd foreign branch at Shanghai commissioned. The Banks aggregate business crossed 4 lakh crore mark. Net profit of the Bank crossed 3000 crore. The Banks branch network crossed the 3000 mark. The Banks aggregate business crossed 5 lakh crore mark. Net profit of the Bank crossed 4000 crore. 100% coverage under Core Banking Solution.

2006-07

2007-08 2008-09 2009-10 2010-11

FINANCIAL STATEMENT

PROFIT AND LOSS

Profit & Loss account of Canara Bank Mar '11 12 mths Income Interest Earned Other Income Total Income Expenditure Interest expended Employee Cost Selling and Admin Expenses Depreciation Miscellaneous Expenses Preoperative Exp Capitalised Operating Expenses Provisions & Contingencies Total Expenses 23,064.01 2,826.98 25,890.99 15,240.74 2,954.84 1,817.82 151.36 1,700.34 0.00 5,420.49 1,203.87 21,865.10 Mar '11 12 mths Net Profit for the Year Extraordionary Items Profit brought forward Total Preference Dividend Equity Dividend Corporate Dividend Tax Per share data (annualised) Earning Per Share (Rs) Equity Dividend (%) Book Value (Rs) Appropriations Transfer to Statutory Reserves Transfer to Other Reserves Proposed Dividend/Transfer to Govt Balance c/f to Balance Sheet Total 4,025.89 0.00 0.00 4,025.89 0.00 487.30 80.00 90.88 110.00 405.00 1,765.29 1,693.30 567.30 0.00 4,025.89 18,751.96 3,000.82 21,752.78 13,071.43 2,193.70 2,164.65 155.13 1,146.44 0.00 4,903.79 756.13 18,731.35 Mar '10 12 mths 3,021.43 0.00 0.00 3,021.43 0.00 410.00 70.00 73.69 100.00 305.83 1,676.35 865.08 480.00 0.00 3,021.43 ------------------- in Rs. Cr. ------------------Mar '10 12 mths

BALANCE SHEET
Balance Sheet of Canara Bank Mar '11 12 mths Capital and Liabilities: Total Share Capital Equity Share Capital Share Application Money Preference Share Capital Reserves Revaluation Reserves Net Worth Deposits Borrowings Total Debt Other Liabilities & Provisions Total Liabilities 443.00 443.00 0.00 0.00 17,498.46 2,098.36 20,039.82 293,972.65 14,261.65 308,234.30 7,804.64 336,078.76 Mar '11 12 mths Assets Cash & Balances with RBI Balance with Banks, Money at Call Advances Investments Gross Block Accumulated Depreciation Net Block Capital Work In Progress Other Assets Total Assets Contingent Liabilities Bills for collection Book Value (Rs) 22,014.79 8,693.32 212,467.17 83,699.92 4,686.15 1,841.74 2,844.41 0.00 6,359.15 336,078.76 111,805.73 29,041.74 405.00 15,719.46 3,933.75 169,334.63 69,676.95 4,480.37 1,620.99 2,859.38 0.00 3,216.92 264,741.09 110,627.02 21,206.47 305.83 410.00 410.00 0.00 0.00 12,129.11 2,132.68 14,671.79 234,651.44 8,440.56 243,092.00 6,977.30 264,741.09 Mar '10 12 mths ------------------- in Rs. Cr. ------------------Mar '10 12 mths