Founded in 1925, Syndicate Bank India is one of the major public sector banks in Southern India. It is headquartered in Manipal, Karnataka.
About Syndicate Bank India
Syndicate Bank was founded in 1925. The bank started its journey in Mangalore. At the time of its inception, the name of the bank was Canara Industrial and Banking Syndicate Limited. The founders of Syndicate Bank were luminaries like Vaman Srinivas Kudva, Upendra Ananth Pai and Dr. T. M. A. Pai. The bank started operating with a capital of only Rs. 8,000. The bank is one of the oldest and premier commercial banks in India.
The bank was renamed as Syndicate Bank Limited in 1964 and the headquarters of the bank were moved to Manipal.
Syndicate Bank was nationalized in 1969. Since that time, the bank has made significant progress in the Indian commercial banking sector. With a glorious history of high quality customer services spanning more than 80 years, Syndicate Bank has built a strong clientele comprising both retail and institutional clients. The bank is the first in India to introduce the Pigmy Deposit Scheme where the agents of the bank visit door to door for receiving deposits. The bank currently has more than 2000 branches and most of the branches have migrated to core banking solutions (CBS).
The bank offers a wide variety of products and services comprising finance and insurance, corporate banking, consumer banking, private equity, asset management, investment banking, credit cards and mortgages.
Shri Basant Seth is the current Chairman and Managing Director of Syndicate Bank. The bank is listed on the following stock exchanges:
National Stock Exchange
Bombay Stock Exchange
Bangalore Stock Exchange
Mangalore Stock Exchange
Syndicate Bank has made a record of opening 1,000,000 customer accounts within just 3 months.
Mergers with Syndicate Bank