CANBANK FACTORS LIMITED Information

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 Andhra Bank 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 , with a Factored Turnover of Rs.3123.04 crores ( as on 31 March 2013 ). The Chairman & Managing Director and the Executive Director of CANARA BANK are the CHAIRMAN and the VICE CHAIRMAN respectively of the Company.Managed by the Managing Director, a executive in top management cadre deputed from CANARA BANK, 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 professionally, by a team of qualified and committed executives and officials, deputed from Canara Bank. 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.