Canara Bank , one of India's leading public sector banks, has announced a significant change in its leadership. Vijay Srirangan, who served as the Non-Executive Chairman of the bank, has completed his tenure and stepped down from his position.

Leadership Transition

According to a regulatory filing by Canara Bank to the stock exchanges, Vijay Srirangan ceased to be a Part-Time Non-Official Director and Non-Executive Chairman on the bank's Board effective from the close of business hours on November 6, 2025. This marks the end of Srirangan's term at the helm of the bank's Board.

Regulatory Compliance

The bank promptly notified the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) about this leadership change, adhering to the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The announcement was made through a communication signed by Santosh Kumar Barik, the Company Secretary of Canara Bank.

Bank's Current Position

While this change in leadership is significant, it's worth noting Canara Bank's recent financial performance and market position:

• As of September 30, 2025, Canara Bank remains the fourth-largest public sector bank in India in terms of asset size.
• The Government of India continues to be the majority shareholder, holding a 62.93% stake in the bank.
• The bank maintains a strong presence with 9,948 branches and 7,405 ATMs across the country.

Recent Financial Highlights

Canara Bank has shown resilience in its financial performance:

The bank has demonstrated improvement in its asset quality and profitability, despite challenges in the banking sector.

As Canara Bank transitions to new leadership, the focus will likely remain on maintaining its strong market position, improving asset quality, and driving growth in an evolving financial landscape. The appointment of a new Non-Executive Chairman will be closely watched by stakeholders and the banking industry at large.

Canara Bank , a prominent public sector lender, has seen its shares reach a new 52-week high of Rs 141.45, marking a significant 10% increase over three consecutive trading sessions. This rally comes on the heels of the bank's impressive quarterly results and potential regulatory changes that could boost foreign investment in public sector banks.

Strong Q1 FY24 Performance

Canara Bank has reported robust financial results for the first quarter of the fiscal year 2024:

Improved Asset Quality

The bank has shown significant improvement in its asset quality:

Potential Regulatory Changes

Adding to the positive sentiment, there is speculation about a potential increase in foreign ownership limits for public sector banks:

• Current limit: 20%
• Proposed limit: 49%
• Estimated passive inflows: $4 billion across PSU banks
• Potential inflow for Canara Bank: $305 million (as per Nuvama Institutional Equities)

This proposed change, if implemented, could significantly boost foreign investment in Canara Bank and other public sector banks, potentially leading to increased liquidity and investor interest.

The combination of strong financial performance and the possibility of increased foreign investment has contributed to the recent surge in Canara Bank's stock price. Investors and market watchers will likely keep a close eye on both the bank's continued performance and any developments regarding the foreign ownership regulations in the coming months.