Canara Bank is the third largest nationalised bank in India. It is under the ownership of the Ministry of Finance, government of India. It is headquartered in Bangalore. Established in 1906 at Mangalore by Ammembal Subba Rao Pai, the bank also has offices in London, Hong Kong, Dubai and New York. he Union Cabinet approved the merger on 4 March 2020. The merger was completed on 1 April 2020 with Syndicate Bank shareholders receiving 158 equity shares in the former for every 1,000 shares they hold.