Scotiabank boosts trade links between Jalisco and Canada

Given the economic importance of Jalisco, Scotiabank has launched the Guadalajara Regional Advisory Council, composed of business leaders, government officials, and representatives from Canada—a country with which it seeks to strengthen economic ties.

“At Scotiabank, we believe that listening to those who drive the region's development is key to turning opportunities into growth. This Council will allow us to bring together different perspectives, forge connections, and strengthen the competitiveness of Western Mexico and its integration with North America, where we already generate more than 70% of the Bank's revenue,” said Pablo Elek, CEO of Scotiabank Mexico.

The initiative arose from the region's economic importance, as Jalisco accounts for 7.3% of the national Gross Domestic Product(GDP), ranks fourth in the national economy, and holds the title of the leading exporting state among non-border states.

During the Council meeting—which was attended by the financial institution’s director, members of its executive team, and representatives from the Canadian Embassy—the economic relationship between Mexico and Canada was highlighted, as well as Jalisco’s role as a hub for that market

Similarly, the meeting aimed to identify new opportunities for bilateral collaboration in which the bank acts as an enabler of the North American corridor through its presence in all three countries.

Today, Scotiabank serves more than 565,000 customers through 113 branches in the Western region. Guadalajara and its metropolitan area alone account for approximately 200,000 of the bank’s customers and more than 11,000 small and medium-sized business customers.