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Scotiabank is a leading multinational financial services provider and Canada's most international bank. Since welcoming our first customers in Halifax, Nova Scotia, in 1832, Scotiabank has continued to expand its global reach. Today, through our team of more than 82,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal, commercial, corporate and investment banking, to over 19 million customers in more than 55 countries around the world.
Our core purpose is to be the best at helping customers become financially better off. Scotiabank's continued growth and success is founded on several key factors:
- A committed team that lives our shared values and works together to provide customers with expert advice and service
- A solid foundation of key strengths and priorities, including a strong capital base, and excellent risk and expense management skills
- A straightforward business model anchored in diversification by business, geography, risk, and people, as well as a clear focus on a five-point strategy
Our Core Businesses
Our strategy of diversification underpins our potential for sustainable earnings growth in each of our four business lines; Canadian Banking, International Banking, Global Banking and Markets and Global Wealth Management; over the long term.
Canadian Banking provides a full suite of financial advice and solutions, supported by an excellent customer experience, to over 7.5 million personal and business customers across Canada, via 1,037 branches, 3,488 automated banking machines, as well as internet, mobile and telephone banking, specialized sales teams, and third party channels.
Canadian Banking is comprised of two main businesses:
- Retail and Small Business Banking provides financial advice and solutions to individuals and small businesses, such as day-to-day banking products, including debit cards, deposit accounts, credit cards, investments, mortgages, loans, and related creditor insurance products.
- Commercial Banking delivers advisory services and a full solutions suite to medium and large businesses including a broad array of lending, deposit and cash management solutions
International Banking encompasses Scotiabank's retail and commercial banking operations in more than 55 countries outside Canada – an international presence unmatched by other Canadian banks. This business line has operations in Latin America, the Caribbean and Central America, and Asia, with more than 69,000 employees (including subsidiaries and affiliates). A full range of personal and commercial financial services is provided to over 13.5 million customers through a network of over 2,800 branches and offices, 6,833 ABMs, mobile, internet and telephone banking, in-store banking kiosks, and specialized sales forces.
Global Banking and Markets
Global Banking and Markets (GBM) is the wholesale banking and capital markets arm of the Bank. It offers an extensive number of products to corporate, government and institutional investor clients. GBM is a full-service lender and investment dealer in Canada and Mexico and offers a wide range of products in the U.S., Central and South America, and in select markets in Europe and the Asia-Pacific region.
GBM provides corporate lending, equity and debt underwriting, and mergers and acquisitions advisory services, as well as capital markets products and services, such as fixed income, derivatives, prime brokerage, securitization, foreign exchange, equity sales, trading and research, energy and agricultural commodities and, through ScotiaMocatta, precious and base metals.
Global Wealth Management
Scotiabank's Global Wealth Management (GWM) division combines the Bank's wealth management and insurance operations in Canada and internationally. GWM is diversified across multiple geographies, product lines and strong businesses.
- Wealth Management is an integrated business comprised of two segments: Global Asset Management and Global Wealth Distribution.
- Global Asset Management represents the investment manufacturing business and is focused on developing innovative investment solutions for both retail and institutional investors.
- Global Wealth Distribution contains the global client-facing wealth businesses including private client, online and full service brokerage and the independent advisor channel. Its focus is on providing advice and solutions for clients in Canada and internationally.
- Insurance has four main business lines in Canada: creditor, life and health, home and auto and travel. Internationally, a full range of insurance products (creditor, non-creditor, life and health, and property) are sold to bank customers through a number of different Scotiabank channels.
Corporate Social Responsibility
Scotiabank helps to build bright futures worldwide through ethical banking practices, environmental awareness and a commitment to communities.
Scotiabank's corporate social responsibility philosophy is to integrate environmental, social and governance practices into our day-to-day business activities. We measure our success not only in terms of financial criteria, but also in building customer satisfaction and employee engagement, and supporting the communities we serve. Scotiabank's CSR priorities are fully integrated into the Bank's five-point business strategy, enriching it through key CSR initiatives.
Our community giving is an important component of our CSR efforts. Over the last five years, the Bank has provided approximately $47 million annually to community causes around the world. We are also proud that our employees spent more than 500,000 hours in 2012 volunteering and fundraising through our formal community programs.
The Bright Future program is the Bank's global philanthropic vision. The Bank's multinational reach has provided a unique opportunity to help people around the world through corporate giving and employee-volunteer programs that span across six pillars: education, healthcare, social services, arts and culture, sports and environment.