Short Bio
One of India’s oldest and largest commercial banks was Syndicate Bank. Upendra Ananth Pai, T. M. A. Pai, and Vaman Srinivas Kudva created it. the bank was formerly called as Canara Industrial and Banking Syndicate Limited when it was first founded. The bank was nationalised by the Indian government on July 19, 1969, along with 13 other significant commercial banks in India. Its main office was in the Indian university town of Manipal. The bank and Canara Bank amalgamated on April 1, 2020.
Overview
Company Name: | Syndicate Bank |
Also Know as: | Syndicate Bank |
Type: | Public |
Industry: | Banking and Financial Services |
Founded: | 1943 |
Founders: | T M A Pai, Upendra Pai, and Vaman Kudva |
Headquarters: | Manipal, Karnataka, India |
Area Served: | India |
Revenue: | INR 21,347 crore (2019-20) |
Net Income: | INR -3,222 crore (2019-20) |
Number of Employees | Over 32,000 (2019-20) |
Website: | https://www.syndicatebank.in/ |
History
One of India’s most reputable and established public sector banks is Syndicate Bank, which was founded in 1925. Three visionaries, T M A Pai, Upendra Pai, and Vaman Kudva, formed it with the intention of giving the general public access to affordable financial services. Syndicate Bank has expanded its reach across the nation over the years, providing a variety of financial goods and services to people, businesses, and sectors.
Services
To meet the various demands of its clients, Syndicate Bank provides a full range of banking services. In addition to loans, credit cards, debit cards, digital banking, wealth management, and corporate banking solutions, the bank also offers savings and current accounts, loans, and credit cards. Focusing on financial inclusion, Syndicate Bank has launched programmes to offer banking services to underserved and rural communities.
Founder
T M A Pai, Upendra Pai, and Vaman Kudva, pioneers in the banking and financial industries, formed Syndicate Bank. They set out to create a bank whose accessible and trustworthy financial services would improve people’s lives while also helping the country’s economy flourish. Their inspiring leadership and dedication to the common good have formed the ideals of Syndicate Bank and fueled its expansion.
Achievements
For its contributions to the banking sector, Syndicate Bank has received commendable acclaim. The bank has won recognition for its digital banking services, financial inclusion programmes, and customer service. Various industry organisations and institutions have recognised Syndicate Bank’s dedication to innovation, social responsibility, and corporate governance.