Scotiabank’s alliance with Kotak Mahindra Bank will serve Indians emigrating to Canada even better
Scotiabank has reached an agreement with India’s Kotak Mahindra Bank Limited to provide financial services to people emigrating to Canada and to Indo-Canadians seeking accounts and investment services in India.
This alliance will bring together the respective strengths of each bank to enable referrals for customers in Canada and India, subject to local banking regulations.
“We’re Canada’s most international bank and we’ve had a presence in India for the past 30 years which gives us a unique perspective on what international clients are looking for in financial planning,” said Troy Wright, Scotiabank’s Executive Vice-President of Retail Distribution, Canadian Banking. “Partnering with Kotak Mahindra Bank gives Scotiabank a platform to reach out to Indian residents immigrating to Canada and provides our customers in Canada with a referral to one of the leading financial institutions in India.”
Through the alliance, select Kotak Mahindra Bank branches will offer Canada-bound Indian residents access to the Scotiabank StartRight® Program for Newcomers. The Scotiabank StartRight Program includes an International Account Opening Program and assists with Canadian credit card applications, all prior to leaving India.
In Canada, select Scotiabank branches will help non-resident Indian customers seeking bank accounts in India by referring them to Kotak Mahindra Bank’s MyIndia Program – their non-resident Indian (nri) and People of Indian Origin (poi) banking solution.
“We are delighted to partner with Scotiabank,” said KVS Manian, President, Consumer Banking, Kotak Mahindra Bank. “The alliance brings together the strengths of both banks to collectively meet the diverse financial needs of the Indian community. We look forward to providing a comprehensive nri banking product suite to the Indian diaspora in Canada through our MyIndia Program.”
In addition to its new partnership with Kotak Mahindra Bank, Scotiabank offers the Scotiabank StartRight International Account Opening Program in select Scotiabank branches in India and Mexico and through China Everbright Bank and Bank of Xi’an in China.
“We understand that moving around the world is an enormous undertaking, and we strive to offer some stability during this transition by helping people with the financial part of their move,” said Winnie Leong, Scotiabank’s Vice-President of Multicultural Banking.
• The Scotiabank StartRight Program is available at any Scotiabank branch in Canada or by calling 1-866-800-5159 (from North America) or 000 800 100 7460 (from India). To better assist customers both in India and Canada the Scotiabank StartRight website is available in a variety of languages, including Punjabi. Once in Canada, newcomers can also find the nearest branch with an advisor fluent in their language by using the branch locator tool at www.scotiabank.com/branchlocator. For more details, log on to www.scotiabank.com/startright.
Posted: Oct 2, 2012