Canada’s Scotiabank on the march in Asia
(5 April 2007 – Malaysia) Canadian bank Scotiabank has opened four full service commercial branches in Malaysia targeting corporate and commercial clients.
Scotiabank is Canada’s most internationally focussed bank, operating in 11 countries in Asia Pacific and the Middle East. The bank’s main business in the region centres on commercial lending, trade finance and foreign exchange as well as consumer banking.
The bank has opened a new branch in the Malaysian capital Kuala Lumpur and an International Offshore Financial Centre in Labuan.
Scotiabank senior vice-president, Asia Pacific, Michele Kwok said the bank had been operating in Malaysia since 1973 and would look to enhance its banking footprint in the country.
'We have developed a solid team of dedicated employees here who know the local market and deliver great products and services,' she said.
Scotiabank has made 12 international acquisitions over the past four years. Last week the bank announced it would acquire almost 25 percent of Thanachart Bank, Thailand's eighth largest bank and leading automobile lender.
It is also exploring a strategic partnership and minority investment in China's seventh-largest city commercial bank, Bank of Dalian, formerly Dalian City Commercial Bank.
The bank has opened a new branch in the Malaysian capital Kuala Lumpur and an International Offshore Financial Centre in Labuan.
Scotiabank senior vice-president, Asia Pacific, Michele Kwok said the bank had been operating in Malaysia since 1973 and would look to enhance its banking footprint in the country.
'We have developed a solid team of dedicated employees here who know the local market and deliver great products and services,' she said.
Scotiabank has made 12 international acquisitions over the past four years. Last week the bank announced it would acquire almost 25 percent of Thanachart Bank, Thailand's eighth largest bank and leading automobile lender.
It is also exploring a strategic partnership and minority investment in China's seventh-largest city commercial bank, Bank of Dalian, formerly Dalian City Commercial Bank.
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