Syndicate Bank History
Syndicate Bank was established in 1925 in Udupi, in coastal Karnataka as Canara Industrial and Banking Syndicate Limited, with a capital of Rs.8000/- by three visionaries – Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician – who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the handloom industry through mobilising small savings from the community. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its agents under its Pigmy Deposit Scheme started in 1928. Thanks to this, Syndicate Bank was known as “Small man’s big bank”.
The bank was renamed as the Syndicate Bank Limited in 1954; also, the head office moved to Manipal. In 1969, the bank was nationalized along with 13 other banks.
The logo has changed through the years — the dog in the logo has become more prominent, and the color palette changed to orange.
The dog in the logo is in sync with Syndicate Bank’s motto – ‘Faithful and Friendly’. The orange color indicates the Bank’s Vibrancy, competency and confidence to reach the next horizon of business; yellow indicates innovation, backing the vibrancy and quick decisions through collective work and thinking.
Tagline: Faithful. Friendly.