Scotia Wealth Management enters into an arrangement with ICICI Bank Canada to offer wealth management services to ICICI's high-net-worth clients

Canada NewsWire

TORONTO, May 13, 2025

TORONTO , May 13, 2025 /CNW/ - Scotia Wealth Management, part of the Scotiabank group of companies, and ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited $(IBN)$, a leading private sector bank in India, have entered into a referral arrangement. Through this arrangement, high-net-worth clients of ICICI Bank Canada will benefit from the opportunity to access Scotia Wealth Management solutions. ICICI Bank Canada currently offers banking services including account services, money transfers, and NRI referral services.

"We are excited about this strategic relationship with ICICI Bank Canada, a trusted name with a strong client base within the South Asian community. We look forward to offering our Total Wealth planning solutions to their clients and extending our market reach into a key cultural segment in Canada," said Jacqui Allard, Group Head, Global Wealth Management, Scotiabank. "Scotia Wealth Management's unique team-based approach provides comprehensive advice, allowing us to better serve the diverse wealth needs of clients in Canada together."

"We are delighted to embark on a strategic relationship with Scotia Wealth Management," said Himadar Maddipatla, President and CEO, ICICI Bank Canada. "Our clients value excellence and we are confident that with the knowledge, experience, and scale of the Scotia Wealth Management team and their 'Total Wealth' approach, our clients will benefit. Through this collaboration, clients of ICICI Bank Canada will have access to wealth management services through Scotia Wealth Management, in addition to receiving a comprehensive suite of solutions through ICICI Bank Canada, including Non-Resident Indian services, remittances to India and banking"

"This strategy emphasizes our dedication to supporting the diversity of entrepreneurs, business owners, and wealth creators across Canada," said Alex Besharat, Executive Vice President and Head, Canadian Wealth Management, Scotiabank. "Together, we are committed to fostering growth and excellence for both organizations and the clients we serve."

About Scotiabank

Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at January 31, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange $(BNS)$. For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.

To learn more about Scotia Wealth Management, please visit:

www.scotiawealthmanagement.com

About ICICI Bank Canada: ICICI Bank Canada is a wholly owned subsidiary of ICICI Bank Limited (NYSE: IBN), a leading private sector bank in India. ICICI Bank Limited's total assets stood at CAD 355.01 billion dollars on March 31, 2025.

ICICI Bank Canada conducts business as a full-service direct bank under Canada's Bank Act. The bank has been serving its customers in Canada for 20 years, providing a host of products and services in the financial space. It offers products for both personal and business banking ranging from newcomer banking accounts, personal accounts, mortgages, remittance, business banking accounts, business Fx, small business loans, corporate banking among others. Visit icicibank.ca to learn more.

SOURCE Scotiabank

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/CONTACT:

For media inquiries, contact: Lana Gogas, Global Wealth Management Communications, Scotiabank, lana.gogas@scotiabank.com.

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May 13, 2025 09:00 ET (13:00 GMT)