Canara Bank is the third largest Nationalised Bank in India. It is under the ownership of Ministry of Finance, Government of India. It is headquartered in Bengaluru. Established in 1906 at Mangalore by Ammembal Subba Rao Pai the bank also has offices in London, Hong Kong, Dubai and New York. As per the announcement made by the Finance Minister Nirmala Sitharaman on 30 August 2019, Manipal based Syndicate Bank merged with Canara bank on 1 April 2020
Ammembal Subba Rao Pai, a philanthropist, established the Canara Hindu Permanent Fund in Mangalore, India, on 1 July 1906. The bank changed its name to Canara Bank Limited in 1910 when it incorporated.
Canara Bank’s first acquisition took place in 1961 when it acquired Bank of Kerala. This had been founded in September 1944 and at the time of its acquisition on 20 May 1961 had three branches. The second bank that Canara Bank acquired was Seasia Midland Bank (Alleppey), which had been established on 26 July 1930 and had seven branches at the time of its takeover
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