A joint venture bank is a financial institution that is formed through a partnership between two or more companies, often from different countries. The bank operates in the country where it is established and provides financial services to the local market. An example of a joint venture bank is the ICICI Bank Canada, which is a partnership between ICICI Bank Limited, a leading Indian bank, and Canada's largest independent financial services company, Fairfax Financial Holdings Limited.
On the other hand, a multinational bank is a financial institution that operates in multiple countries and provides financial services to customers in different parts of the world. Multinational banks have a global presence and offer a wide range of financial products and services to their customers. An example of a multinational bank is HSBC, which operates in over 80 countries and provides services such as retail banking, commercial banking, and investment banking to its customers worldwide.
In summary, the main difference between a joint venture bank and a multinational bank is that the former operates in a single country through a partnership between two or more companies, while the latter has a global presence and operates in multiple countries.
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