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Scotiabank |
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Scotiabank is the popularly known name of the Bank of Nova Scotia. The holds an important position in the banking industry in Canada and is among the top five banks in Canada. Scotiabank or The Bank of Nova Scotia is the third largest bank in Canada in terms of Assets while the bank is the second largest in Canada in terms of market capitalization. Scotiabank is also notable for being the most international bank in Canada as the bank has more branches in the foreign countries than any other banks in Canada.
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The Scotiabank in Canada was founded in the year 1832 in Halifax in Nova Scotia. The Company started Branching out with opening a branch in Windsor in Nova Scotia. For the first 50 years of incorporation the branches of the bank was limited to the maritime Province only. Later in the year 1882 the bank opened a branch in Winnipeg in Manitoba. Though the branch was closed later but the experience helped the bank to spread its horizon and open its branches to different places in the country as well as in abroad. Scotiabank was the first Canadian bank to open its branches in the newfoundland.
Scotiabank has its operations in Chicago and Minneapolis in the United States as well as in Mexico. However the in Mexico the bank operates under the name Scotiabank Inverlat and deals with all types of personal banking, property and auto loans.
Scotiabank is a member of the Global ATM Alliance which is a joint venture of many major international banks that provides the customers of one bank to use their ATM cards or check card in other banks within the Joint venture.
The commercial banking division of Scotiabank is named domestic banking while the investment banking division is called Scotia Capital Inc. the Scotiabank also offers merchant banking and e-banking facilities.
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