The bank also plans to sign a deal "shortly" with India's HDFC Bank under which the two will refer customers to each other, it said. "Indo-Canadians can make international cash transfers through Internet banking and recipient in India can receive the amount with in couple of minutes," Rania Llewellyn, vice president, Multi-Cultural Banking of the Scotia Bank said.
Sabi S Marwah, vice chairman and chief administrative officer, said the bank plans to sign a deal "shortly" with HDFC Bank under which the two financial institutions will refer customers to each other.
"This will enable Scotiabank to reach out to people in India who are immigrating to Canada and, at the same time, provide Canadian customers with a referral to one of the leading financial institutions in India," Marwah said.
The proposed agreement will help it establish ties with Indians who are immigrating to Canada. In return, it plans to refer Canadian customers to HDFC Bank, which acquired smaller rival Centurion Bank of Punjab last month and now has 11 million customers and 1,167 branches in India.
