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Media Coverage

Financial Post quotes Stephen Clark in an article on WealthOne Bank’s plan to grow its business among Chinese-Canadians

Fasken
Reading Time 1 minute read

Overview

“New homegrown bank targets Chinese Canadians for deposits, mortgages” by Barbara Shecter, Financial Post

Financial Post quotes Toronto lawyer Stephen Clark in an article on the rise of Canadian banks and subsidiaries of foreign banks focused on the Chinese-Canadian community.

“Chinese nationals living in Canada and Canadians of Chinese decent have already captured the attention of banks,” according to Stephen Clark, co-chair of the financial institutions practice at law firm Fasken Martineau DuMoulin LLP in Toronto.

“Two wholly owned subsidiaries of Chinese banks, Bank of China (Canada) and Industrial and Commercial Bank of China (Canada), operate in Canada and are regulated by the Office of the Superintendent of Financial Institutions,” he said.