Scotiabank Partners with Bank of Xi’an
“We are in more than 55 countries around the world and have been proud to work in China for over 20 years,” said Winnie Leong, Vice-President of Multicultural Banking, Scotiabank. “Based on our international experience we have a strong understanding of what a complicated and important decision it is to move to a new country. When newcomers arrive in Canada, one of their top priorities is finding a financial institution. Through our new partnership with Bank of Xi’an, we are able to give immigrants, foreign workers and students peace of mind by helping them establish a Canadian banking relationship before they emigrate to Canada.”
Scotiabank currently owns a minority stake in the Bank of Xi’an. Under this co-operation agreement with the Bank of Xi’an, Chinese immigrants, international students and foreign workers planning to move to Canada are able to open an account with Scotiabank through 10 participating Bank of Xi’an locations in Xi’an, China. Once in Canada, customers can visit their local Scotiabank branch to activate their accounts, apply for a credit card and take advantage of additional benefits included in the Scotiabank StartRight Program, Scotiabank’s banking package designed for newcomers to Canada.
“This new partnership is a natural extension to our eight year relationship with Scotiabank,” said Zhishun Liu, Vice-President, Bank of Xi’an. “We look forward to offering our guidance and assistance to a wide range of customers here in China that are looking to begin the financial part of their lives in Canada.”
Scotiabank’s business in China also includes a partnership with China Everbright Bank (CEB), which began in 2009. Through this partnership, immigrants and international students moving to Canada can open an account with Scotiabank through any participating CEB branches in 33 cities across China.
About Bank of Xi’an
Bank of Xi’an Co., Ltd., a joint-equity commercial bank, was founded in May 1997, whose shareholders include Xi’an Municipal Finance Bureau, the Bank of Nova Scotia, China Cinda Asset Management Co., Ltd., domestic large and medium-sized enterprises, and individual investors. As a leading regional commercial bank, the Bank has one branch and 113 sub-branches and owns two rural banks, providing full financial services in Chinese western area. It has 2300 employees, CNY102.3bn total assets, CNY76.3bn deposits, and CNY44.6bn loans at the end of 2011. The featured services and products of the Bank include “Golden Silk Road”, “Profit Power”, ” Global Golden Line of Credit”, and “E-credit line.” In 2012, the Bank was ranked No. 632 by the Banker magazine on its “Top 1000 World Banks.”
SOURCE: Scotiabank