CANARA BANK Share price

History and DevelopmentCanara Bank was founded on July 1 1906 in the town of Mangalore inKarnataka by Shri Ammembal Subbarao Pai an eminent lawyereducationist and social reformer. Backed by a team of professionalscommitted staff and extended clientele base the Bank has over thelast 96 years achieved many a milestone in the fields of commercialand social banking. The Bank also has been able to register profitsevery year since inception.The Bank began operations as the Canara Hindu Permanent Fund and waslater reconstituted as Canara Bank Ltd. in 1910. From a smallbeginning Canara Bank has grown into one of the largest banks in Indiawith a wide branch network and client base. Acquisitions have alsoenabled the Bank to achieve growth. Prior to nationalisation in 1969the Bank took over a number of banks starting with the Bank of KeralaLtd. in 1961 and ending with the Pangal Nayak Bank Ltd. in 1968.Subsequently in 1985 it took over Laxmi Commercial Bank Ltd. In its96 years of operations the Bank has grown into 2409 - branches with atotal business size of over Rs. 97000 crore and currently employsover 47500 people.The growth profile of the Bank over its history is given below-Year Deposits Net Advances No. Of (Rs. Crore) (Rs. Crore) Branches1907 0.004 0.008 11910 0.026 0.045 11926 0.250 0.300 41928 0.374 0.385 71929 0.467 0.394 81930 0.572 0.499 111932 0.555 0.368 131940 0.867 0.472 261945 3.504 1.569 351947 5.26 2.03 391956 14.32 7.73 531969 185.24 125.47 3681980 2099.06 1172.29 12841990 10922.67 6498.48 20061990-1991 12368.32 7073.05 20201991-1992 14238.15 7999.85 20261992-1993 16466.07 8042.15 20481993-1994 19538.94 8284.99 20891994-1995 22475.11 10878.26 21361995-1996 26243.24 13095.84 21921996-1997 31445.01 14412.83 22621997-1998 38045.00 16825.00 23121998-1999 41959.00 19530.00 23791999-2000 48001.00 23547.00 23972000-2001 59070.00 27832.00 24052001-2002 64030.00 33127.00 2409