A subsidiary of CANARA BANK, a leading Public Sector Bank, reputed for its diversified and professional services.Incorporated in the year 1991, with Small Industries Development Bank of India(SIDBI) and Union Bank India as co-promoters.
As a Non-Banking Financial Company, the Company is governed by the Regulatory Norms of Reserve Bank of India.As one of the leading factoring industry in INDIA.
The Chairperson is the Executive Director from Canara Bank and the Managing Director is an Executive in the top management cadre of Canara Bank deputed to this company who under the guidance and control of Board of Directors consisting of eminent personalities from Financial Sector. The day-to-day affairs of the company are managed by the Managing Director assisted by a team of qualified professionals, committed executives, Officials and Staff.
Our Company continues to enjoy the highest rating of “A1+” by CRISIL for its Short Term Debt Programme.
The assigned ratings reflect Canbank Factors Limited’s (CBF) strong market position in the domestic factoring business and its comfortable earnings profile. While the inherent vulnerability of its asset portfolio (on account of the dominant exposure to small and medium enterprises) moderates CBF’s credit profile, the company’s demonstrated ability to maintain low delinquency levels is a key factor supporting the rating. The rating also reflects the strengths that CBF derives from its majority ownership by Canara Bank.