The announcement of amalgamation  of Syndicate Bank into Canara Bank was made with the following objectives:

 Unlocking potential through consolidation – creation of Next Gen Banks

 Repositioning PSBs with scale for building of USD 5 Trillion Economy

 Big banks with Enhanced capacity to increase credit

 Creation of Banks with a strong national presence and international reach

 Operational efficiency gains to reduce cost of lending

 Enhanced risk appetite

 Wider offerings with enhanced customization

 Better ability to raise resources from market