23:22:37 EDT Fri 19 Jul 2019
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Globe says Scotiabank has good timing with Raptors

2019-06-03 07:19 ET - In the News

Also In the News (C-BMO) Bank of Montreal

The Globe and Mail reports in its Saturday edition that deep down, hockey is still intrinsic to Canada's DNA. A triple-bylined item led by Susan Krashinsky says that this is a heady time for Canada's only National Basketball Association franchise, and you would be forgiven for thinking you are in basketball country. It is the first time that the NBA finals have come to a court outside the United States, turning a multitude of eyes toward Toronto. However the series shakes out, this represents a new apex for basketball in Canada -- and for the Raptors brand. Among the team's sponsors, advertisers, the broadcasters that air the games and others, it has tipped off a mad scramble to make the most of the celebrations and capitalize on the Raptors' success. Left out of the high-fiving is Bank of Montreal, whose five-year contract with the team expired in July, 2018. Scotiabank took it over, then bestowed the title on its low-cost digital subsidiary, Tangerine. The rationale was simple: Scotiabank already held the coveted spot as the official bank of the Leafs, and with its no-fee accounts and branchless strategy, Tangerine was a good match for the younger, more diverse and digitally savvy Raptors fan base.

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