Canara Bank’s wholly owned subsidiary -- Canara Bank Tanzania has transferred its assets and liabilities to Exim Bank Tanzania, and ceased its business operations with effect from December 21, 2024.
Earlier, the bank had received approval from the Reserve Bank of India (RBI) to divest its stakes in Canara Robeco Asset Management and Canara HSBC Life Insurance by 13% and 14.5%, respectively, through an IPO.
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.
