In the sprawling narrative of India’s banking industry, let us pull up a chair and talk about Canara Bank – a financial institution that has been weaving its story since 1906.
In the beautiful coastal town of Mangalore in Karnataka, Ammembal Subba Rao Pai laid the foundation stone of Canara Bank.
Pai, a visionary even in those black and white times, also founded ‘Canara School’ (which has grown into a large institution in the coastal city of Mangalore today). He sowed the seeds of a banking legacy that would stand the test of time.
Pai said “A good Bank is not only the financial heart of the community, but has also an obligation of helping in every manner to improve the economic conditions of the common people”
Earlier known as ‘Canara Hindu Permanent Fund Ltd’, Canara Bank went on to be known as the ‘Cradle of Indian Banking’.
Fast forward to the post-independence era and Canara Bank became a pivotal player in the nationalisation of Banks in 1969.
In the grand plot of Indian banking, this was the chapter where the bank not only adapted to change but embraced a role as a catalyst for economic empowerment.
With over a century in the game, Canara Bank’s branches and ATMs have spread through every nook and corner of the country.
From bustling metros to the quiet corners, it has been a companion in the financial journeys of many.
Its subsidiaries, Canara Robeco Asset Management Company and Canbank Factors, are like supporting characters, adding layers to the financial plot.
In a bid to broaden its reach, Canara Bank has ventured beyond the shores of India and positioned itself in:
- London (UK)
- Dubai (UAE)
- New York (USA)
Through ups and downs, challenges and triumphs, Canara Bank’s story is still unravelling. It is a tale of adaptability, tradition and a commitment to being more than just a bank.
In the amalgamation of banks in 2020, the erstwhile Syndicate Bank merged with Canara Bank. Since then the share price of the bank has gone up 4 times in the last 4 years.
Canara Bank Share Price History
| Year | Share Price | Gain / Loss |
|---|---|---|
| 2002 | ₹ 9.66 | |
| 2003 | ₹ 26.54 | + 174.7% |
| 2004 | ₹ 41.36 | + 55.8% |
| 2005 | ₹ 46.80 | + 13.2% |
| 2006 | ₹ 53.74 | + 14.8% |
| 2007 | ₹ 64.58 | + 20.2% |
| 2008 | ₹ 36.54 | - 43.4% |
| 2009 | ₹ 76.10 | + 108.3% |
| 2010 | ₹ 128.50 | + 68.9% |
| 2011 | ₹ 70.75 | - 44.9% |
| 2012 | ₹ 96.40 | + 36.3% |
| 2013 | ₹ 54.90 | - 43.0% |
| 2014 | ₹ 87.30 | + 59.0% |
| 2015 | ₹ 45.45 | - 47.9% |
| 2016 | ₹ 51.15 | + 12.5% |
| 2017 | ₹ 72.20 | + 41.2% |
| 2018 | ₹ 55.00 | - 23.8% |
| 2019 | ₹ 44.26 | - 19.5% |
| 2020 | ₹ 25.80 | - 41.7% |
| 2021 | ₹ 39.95 | + 54.8% |
| 2022 | ₹ 66.70 | + 67.0% |
| 2023 | ₹ 87.39 | + 31.0% |
| 2024 | ₹ 97.00 | + 11.0% |
Canara Bank Share Price Chart
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- During 2002, the share price of Canara Bank Ltd was ₹ 9.66.
- If you had bought shares worth ₹ 2500 in 2002, you would have 2588 shares today.
- At the end of 2024, the current value of your shares would be ₹ 251035.
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