Canara Bank celebrates 120th Foundation Day with bold steps towards customer-centric innovation

THEBUSINESSBYTES BUREAU

BANGALORE, JULY 1, 2025

Canara Bank, one of India’s leading public sector banks, is proudly celebrating its 120th Foundation Day today, reaffirming its commitment to customer-centric innovation and inclusive banking. Established in 1906, the bank has evolved into a cornerstone of India’s financial landscape, with a rich legacy built on trust, service, and social responsibility.

Marking this historic milestone, Canara Bank has taken a transformative step by eliminating the minimum balance requirement for all savings accounts. This move reinforces the bank’s mission to make banking more accessible and equitable, ensuring that every individual—regardless of financial background — can enjoy the benefits of a savings account without constraints.

With a robust global business of over ₹25 lakh crore and a network of more than 9,800 branches across the country, Canara Bank continues to lead with purpose and performance.

Reflecting on the occasion, K. Satyanarayan Raju, MD & CEO of Canara Bank, said: “My heart brims with immense gratitude. This remarkable milestone is a testament to the enduring trust of over 12 crore customers, the steadfast commitment of our stakeholders, and the unwavering support of our well-wishers across the nation. From our humble inception on July 1, 1906, to today — standing strong with a nationwide presence — our journey has been defined by the core values of Trust, Togetherness, and Transformation. These values continue to inspire us as we move forward with purpose, innovation, and a deep sense of responsibility towards nation-building.”

He further added: “On this historic occasion, I extend my heartfelt thanks to each of our customers, stakeholders, and well-wishers, and reaffirm our pledge to serve the country with integrity, inclusivity, and excellence. Together, we have achieved much — and together, we shall achieve more.”

In line with its customer-first approach, Canara Bank is also rolling out a series of forward-looking initiatives. The CANARA TruEdge suite delivers personalized digital banking and insurance solutions for institutional clients, while Canara Aspire, a zero-balance, youth-oriented savings account, offers exclusive educational and insurance benefits—underscoring the bank’s vision of “Together We Can.”