OBJECTIVES OF COMMERCIAL BANKS
1. Mobilise savings through current, saving and fixed deposit
accounts and other instruments.
2. Grant loans and advances.
3. Provide treasury services.
4. Facilitate cross border payment services.
5. Provide custody services.
6. Provide wealth management services and sales of investment and
insurance products and financial planning services.
7. Provide hire purchase and leasing facilities.
8. Provide any other business that central banks with the approval of
Ministry of finance, prescribe from time to time.
ADVANTAGES OF COMMERCIAL BANK
More Locations :
The most noticeable advantage of commercial banks is their retail store setup.
Most are large, global companies, and they have hundreds of retail locations in
major cities. This gives you the ability to access your money and accounts from
virtually any location.
Another advantage is commercial banks' ability to provide low prices. They act like
wholesale companies buying in bulk and selling at a discount. Most commercial
banks will not charge fees to open or maintain checking and savings accounts, and
their real estate loans are usually offered at low interest rates.
More Product Offerings :
Commercial banks can offer more products and services to their customers. A
commercial bank will offer everything a small, local bank does, plus CDs,
investment accounts, commercial real estate loans, and credit and debit cards.
Type Public(BSE: 532483, NSE: CANBK)
Industry Banking, Financial services
Founded Canara Bank Hindu Permanent Fund (1906)
Canara Bank Ltd (1910)
Canara Bank (1969)
Headquarters Bangalore, Karnataka, India
Key people Rakesh Sharma (CMD & CEO)
Branches = 5705
Products Investment Banking
Revenue ₹339 billion (US$5.1 billion) (2012)
Net income ₹33.41 billion (US$500 million) (2012)
Total assets ₹4.72 trillion (US$71 billion) (2015)
Number of employees 53,506 (2015)
Slogan Together we can, serving to grow, growing to serve
AWARDS AND ACHIEVEMENTS
•Golden Peacock Business Excellence Award 2015 by the Institutes of
•Awarded ‘Niryat Bandhu’ instituted by Federation of Indian Export Organization
(FIEO) for excellent support services rendered for the promotion of export.
•“SKOCH Renaissance Award 2014” under India's Best Projects 2014 Category
for Rural Self Employment Training Institute, Institute for Artisans, Institute for
information Technology, Community Development and Women Empowerment.
•"MSME Banking Excellence Awards-2014" organized by Chamber of Indian
Micro, Small and Medium Enterprises (CIMSME) at New Delhi.
•Awarded First Prize under “Indira Gandhi Rajbhasha Shield” in Region C for
effective implementation of Official Language for the year 2013-14.
1.CANARA ROBECO ASSET MANAGEMENT COMPANY LIMITED
2.CANBANK FINANCIAL SERVICES LIMITED
3.CANARA BANK SECURITIES LIMITED
4.CANBANK COMPUTER SERVICES LIMITED
5.CAN FIN HOMES LIMITED
6.CANBANK FACTORS LIMITED
7.CANBANK VENTURE CAPITAL FUND LIMITED
8.Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited
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