Chinese-Canadian mortgage market targeted by new bank

WealthOne Bank of Canada is targeting the Chinese-Canadian market with its new residential mortgage and banking products.

The bank has opened branches in Vancouver and Toronto and CEO Charles Lambert told the Financial Post that it has a strong advantage for its target market: “At the heart of this bank is a team with a deep knowledge and respect for Chinese values and culture, and frontline financial services managers who are fluent in Chinese and English.”

Former Scotiabank mortgage chief Lambert says there are 1.3 million Chinese-Canadians in the country with 70 per cent in Vancouver and Toronto.

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