Money & Banking

Canara Bank moves to 4-tier structure

Our Bureau Bengaluru | Updated on January 17, 2018 Published on July 15, 2016

Canara Bank has moved from a three-tier to a four-tier organisation structure – comprising head office, 21 circles, 118 regional offices (ROs) and 5,847 branches across the country.

The bank had pilot launched its four-tier structure on Apri1 15 this year in two circles – Bengaluru (Karnataka) and Thiruvananthapuram (Kerala) – with 19 ROs. Now, the bank is opening the remaining 19 circles and 99 ROs effective Thursday. The bank had moved to a three-tier organisation structure in 2006.

While inaugurating the 19 circles and 99 ROs, Rakesh Sharma, MD and CEO of the bank, said: “Being a front-ranking large commercial bank in the country, we must change our structure to be more agile, stay in tune with the times, drive business, and bring in sustained growth by establishing more ‘Connect with the Branches and Customers’ initiatives.”

“Canara Bank has been continuously and consistently inventing and reinventing itself to remain relevant with the times and the changing economic profile of the country,” he added.

At present, the bank’s total business is more than ₹8-lakh crore, with a strong pan-India presence of 5,847 branches and 9,657 ATMs. The bank has been catering to a client base exceeding 7.25 crore.

Published on July 15, 2016
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