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Facts and Geography
The Scotiabank Group is one of North America's premier financial institutions and Canada's most international bank. We serve millions of households, businesses, corporations and governments through a global network of branches and offices that span the Americas, the Caribbean, Europe and Asia Pacific.
Since welcoming our first customers in 1832 in Halifax, Nova Scotia, Scotiabank has enjoyed continued success by building on our traditional core strengths. These include:
- risk management;
- cost control;
- diversification;
- customer satisfaction; and,
- our team of satisfied employees.
Today, we are an organization of more than 77,000 employees, working in some 55 countries, in three core businesses, plus our key support areas.
The World is Yours
Choose from five regions to discover how Scotiabank began and has succeeded in these locations, as well as information about the products and services we offer.
North America - expand for more details
Canada
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. Founded in Halifax, Nova Scotia, in 1832, the Bank began expanding westward in 1880s. By the early 1900s, the Bank had established a coast-to-coast network, and moved its headquarters to Toronto.
Today, Domestic Banking provides a full range of banking and investment services to retail, small business, commercial and wealth management customers across Canada. These services are delivered through a national network of more than 950 branches, over 2,500 ABMs, call centres, plus telephone, wireless and Internet banking. Among the investment and advisory services offered by the Wealth Management Group are full-service brokerage, direct investing, mutual funds and private client services.
Global Banking and Markets - the Scotiabank Group's corporate and investment banking operations - provides specialized solutions to corporate, institutional and government clients across Canada - as well as the United States and Europe, and select services to clients in Mexico and Asia.
United States
Scotiabank is proud to be one of the leading foreign banks serving large national and multinational corporations in the U.S.A., through Global Banking and Markets.
Global Banking and Markets has been in the U.S. for over one hundred years, and covers the country through six regional offices. Over the years, we've built strong relationships with some of America's most renowned corporations. Because we've assembled our U.S. team around core industry groups, clients have access to professionals with intimate knowledge of their markets, competitors and challenges. Drawing on our high-ranked product and service groups, We are fully capable of devising and executing tailor-made solutions to today's competitive challenges.
Mexico
In 1967 Scotiabank opened a representative office and in 1992, purchases a 5% stake in Grupo Inverlat. In 1996 Scotiabank increases to 10% in Grupo Inverlat. In 2000 Scotiabank's stake in Grupo Inverlat increases to 55%. Grupo Inverlat is renamed Grupo Financiero Scotiabank Inverlat in 2001.
Grupo Financiero Scotiabank Inverlat is comprised of Scotiabank Inverlat and Scotiabank Inverlat Casa de Bolsa. Scotiabank Inverlat - One of Mexico's largest commercial banks, offering a full range of corporate, commercial and retail services through a nationwide network of over 430 branches and over 1,000 ATM's.
Scotiabank Inverlat Casa de Bolsa - An investment bank offering Investment services and private placements.
Europe & the Middle East - expand for more details
Egypt
Scotiabank was established in Egypt in 1976 as part of a regional initiative led by the London Regional Office to expand a branch network in Europe Africa and the Middle East.
In the mid 70's Egypt liberalized the banking sector and opened the door to foreign banks. Scotiabank took this opportunity, in line with the regional strategy, and opened the Cairo branch in 1976.
Scotiabank operates as a branch in Egypt offering commercial and trade finance services. No retail services are offered in this branch.
Ireland
Scotiabank is proud to maintain a presence in Ireland. Through our subsidiary, Scotiabank (Ireland) Limited, we provide corporate lending activities to top European and domestic companies. Global Banking and Markets' Credit & Equity Derivatives team, which is based in Dublin's International Financial Services Centre, also structures transactions for financial and credit institutions. Retail Services are not provided.
Turkey
As Canada's most international bank, we operate where you do business. With our extensive presence in over 50 international markets including our new office in Istanbul, our Trade Finance and Correspondent Banking professionals can help you see the world beyond the horizon. With over a decade of experience in the Turkish market, we have the knowledge and expertise to provide you with the solutions you need to help your business succeed.
United Kingdom
Scotiabank is proud to maintain a strong presence in the United Kingdom though our office in London offering a range of corporate banking services and selected wholesale investment banking services including Forex, Treasury, Deriviatives, Metals and Fixed Income. Our subsidiary, Scotiabank Europe plc, provides lending services to major European, UK and North American corporates and subsidiaries together with a broad range of corporate banking/industry specialization services to selected customers.
Caribbean - expand for more details
Anguilla
The Bank of Nova Scotia opened a full service Branch in Anguilla in 1989 but changed its status to a limited liability company on October 27, 1995. Scotiabank Anguilla Limited (SAL) is ultimately owned by The Bank of Nova Scotia.
Scotiabank Anguilla Limited offers an extensive range of commercial and retail banking services.
Antigua
Scotiabank opened its first branch on Corn Alley with a staff of six in 1961. We now have two branches in Antigua.
Both branches provide Retail and Commercial Services.
Aruba
Scotiabank is proud to maintain a presence in the Netherlands Antilles and Aruba through an affiliation with Maduro and Curiel's Bank N.V. With approximately 35 branches in Aruba, Bonaire, Curaçao, St. Maarten and St. Eustatius, we are pleased to offer a complete range of retail, commercial, investment, corporate trust, insurance and private banking services.
The Bahamas
The Bank of Nova Scotia established its commercial banking operation in The Bahamas in February 1956. In February 1958, the Bank established a presence for its trust operations in its wholly owned subsidiary, The Bank of Nova Scotia Trust Company (Bahamas) Limited, which provides a comprehensive range of offshore trust services for clients. In April 1998, the Bank incorporated its banking operations in the Bahamas, establishing a wholly-owned subsidiary, Scotiabank (Bahamas) Limited.
Scotiabank (Bahamas) Limited provides banking and financial services including commercial/private banking.
To date we have a total of 19 branches and of over 500 staff members administer an array of retail, business and corporate products and services to an extensive customer base.
Barbados
Scotiabank established its first branch in Barbados in 1956. At present there are eight full service branches and six business support units.
Scotiabank Barbados has over 200 staff and provides multiple banking services including Personal, Commercial and Offshore banking services. We continue to be leaders in consumer lending where we have always held the greater share of the market and this has earned us the reputation as the "people's bank".
British Virgin Islands
Scotiabank opened in the British Virgin Islands in 1967. The official name of the company is Scotiabank (British Virgin Islands) Limited.
Scotiabank (British Virgin Islands) Limited is a full service bank and has customers in retail, commercial, corporate banking and trade finance.
Cayman Islands
Scotiabank opened in the Cayman Islands in 1965. In January 2003, Scotiabank was merged with Scotiatrust and now operate under the name Scotiabank & Trust (Cayman) Ltd.
Today we operate three branches; Scotia Centre Main Branch, the Strand and Airport Centre Branch with over 110 full time employees offering an extensive range of retail, commercial and international trust services.
Dominica
Dominica is the most northerly and largest of the Windward Islands and is situated between Martinique and Guadeloupe. The main city is Roseau with a secondary town called Portsmouth in the north of the island.
Scotiabank has had a presence in Dominica since 1988 when the first branch opened. Our branch in the capital city of Roseau offers a broad range of retail and commercial banking services, including electronic cash management.
Dominican Republic
In 1920, Scotiabank opened its doors for the first time in the Dominican Republic in Santo Domingo.
In the years that followed, the Bank continued growing financially and managed to solidify its roots in the Dominican Republic. In 2001, Scotiabank initiated a market repositioning and expansion plan and, in that year, two new branches were opened in Santo Domingo and four additional ones in 2002, one of them in the country's interior.
Continuing with the expansion plan, in 2003 the Bank significantly increased its presence by purchasing select financial assets and Banco Intercontinental (Baninter) branches offered by the Central Bank due to the closing of the former.
Scotiabank is the only Canadian bank in the Dominican Republic and is the country's fifth largest private bank in terms of number of branches totalling 54. We offer a wide range of products and services for Retail, Commercial and Corporate Banking
Grenada
Scotiabank opened its first branch in Grenada in 1963 in the town of St. George. Three branches of the Bank are currently open in Grenada at; Grand Anse, St. George's and Grenville. Some of the services offered include retail loans, mortgages and deposits, commercial loans and deposits, foreign exchange, and letters of credit.
Netherlands Antilles
Scotiabank is proud to maintain a presence in the Netherlands Antilles and Aruba through an affiliation with Maduro and Curiel's Bank N.V. With approximately 35 branches in Aruba, Bonaire, Curaçao, St. Maarten and St. Eustatius, we are pleased to offer a complete range of retail, commercial, investment, corporate trust, insurance and private banking services.
Puerto Rico
On November 14, 1910, Scotiabank established its first branch in San Juan, Puerto Rico, one of 15 branches that the Bank opened worldwide that year. The Bank gradually expanded, opening new branches in Fajardo and Ponce in 1919, Santurce in 1952 and Hato Rey in 1968. In 1975, Scotiabank purchased a local bank, Banco Mercantil, and as a result of the acquisition, Scotiabank de Puerto Rico was formed in 1979.
Scotiabank de Puerto Rico currently has 18 branches which includes 5 Business Banking Centres, Automotive Finance Centre, Mortgage Centre and Call Centre. Each branch offers a wide range of deposit and loan products and services to its clients. Our main business lines are Retail (Branch) Banking, and Commercial Banking, and regardless of whether the customer is an individual or a large corporation, Scotiabank de Puerto Rico can provide its clients with products and services that meet their deposit and borrowing needs.
Haiti
The Bank of Nova Scotia, already showing its strong presence in the Caribbean, opened its first branch in Haiti in November 1972.
Scotiabank is proud to be the only Canadian bank operating in Haiti. Through 4 branches, we are pleased to offer a range of retail and commercial services.
Jamaica
Scotiabank was the first Canadian bank to open a branch in the Caribbean. The Bank of Nova Scotia was established in Jamaica in 1889 and has enjoyed a history of changes and transformations from colonialism to independence.
What began with a small banking office in Kingston is today, a sophisticated island wide network of 43 branches. With a staff of over 1400, Scotiabank Jamaica provides state-of-the-art retail and commercial banking services to the Jamaican public.
Through it all, Scotiabank has taken the longer view and has established its reputation as a strong, stable, and reliable participant in Jamaica's continuing growth and development. Our commitment to customers -You're Safe with Us- is more than just an advertising slogan; it is backed by the experience and stability accompanying a century of continuous and progressive banking operations in Jamaica.
St. Lucia
Scotiabank St. Lucia is one of two international banks in St. Lucia with a large network of branches and a strong corporate image. It was opened in 1964 and has a staff of approximately 94 skilled professionals who are experienced, dedicated and loyal.
Scotiabank St. Lucia has a primary focus in Retail and Commercial lending but has a mixed portfolio which includes retail lending, retail deposits, credit cards, commercial deposits and investments.
St. Kitts and Nevis
Scotiabank opened its first branch in St. Kitts on November 1, 1982. We now have three branches, two in St. Kitts and one branch in Nevis. Each branch provides Retail, Commercial and cash management services.
St. Maarten
The St. Maarten branch of the Bank of Nova Scotia opened October 30, 1969 and still operates in a branch capacity today. We currently operate with two branches.
The official language of the Netherlands Antilles is Dutch. Notwithstanding this, most citizens speak English and business is comfortably conducted in English.
Scotiabank St. Maarten offers full line branch banking including transactional day-to-day bank accounts for commercial and retail clients and international access ATM's.
St. Vincent
Scotiabank St. Vincent opened in 1977, with a focus on retail and commercial business. There is one branch located in the Capital City of Kingstown.
Scotiabank St. Vincent focuses on the needs of domestic retail and commercial clients, with the major part of the portfolio being retail.
Trinidad & Tobago
In 1972 The Bank of Nova Scotia was incorporated locally and became known as The Bank of Nova Scotia Trinidad and Tobago Limited in keeping with the wishes of our independent nation. To date we have 23 branches offering retail, commercial and cash management services.
Scotiabank Trinidad and Tobago Limited (Scotiabank) and its wholly owned subsidiary companies, Scotia Trust and Merchant Bank Trinidad and Tobago Limited (Scotia Trust) offers trust administration, portfolio management, mortgages investment and merchant banking services. ScotiaLife Trinidad and Tobago Limited (ScotiaLife) offers medium to long term savings and retirement products.
Turks & Caicos Islands
Scotiabank first established its presence within The Turks and Caicos Islands, on the Island of Grand Turk - the Nation's capital. The branch there was opened as The Bank of Nova Scotia on November 14, 1982. Due to the rapid economic growth within the country a second branch was opened on the Island of Providenciales on November 1, 1988 and is now the Main Branch for operations in the Turks & Caicos Islands.
We became locally incorporated on April 1, 2003 and changed our name to Scotiabank (Turks and Caicos) Ltd. and offer a full range of retail and commercial services.
U.S. Virgin Islands
Scotiabank has operated in the U.S. Virgin Islands since 1963 and has always made it a policy and a practice to serve the banking needs of its customers in the most efficient and effective way.
We currently maintain 9 Branches comprised of three in St. Croix, 5 branches in St. Thomas and one in St. John. All Branches offer retail, commercial and electronic cash management services.
Asia / Pacific - expand for more details
People's Republic of China
Scotiabank has had an active presence in China for over 20 years, beginning with the opening of our Beijing Representative Office in 1982.
In 1993, we opened our second representative office in Guangzhou, which later became a branch in February 1995. Scotiabank was the first Canadian bank to be granted a branch license in Guangzhou. In 2003, our Guangzhou branch obtained a local currency business license, becoming the first Canadian bank in China licensed to conduct local currency (Renminbi) business, in addition to foreign currency business. In November 1997, we obtained approval to open our second branch in Chongqing, which opened for business in August 1998.
In late 2004, Scotiabank purchased a minority stake in Xi'an City Commercial Bank, an investment initiative undertaken jointly with the International Financial Corporation. This is a first by a Canadian bank, in which we are one of a small number of foreign banks with an investment in a domestic Chinese bank.
In September 2004, we obtained approval to open another representative office in Shanghai, which is the most rapidly growing market in China and home to many multinational corporations.
Scotiabank has the largest presence in mainland China among all Canadian banks.
Hong Kong
The Hong Kong branch was originally opened in 1978. Scotiabank (Hong Kong) Limited was established in Hong Kong in 2001 and located on the same premises as the Hong Kong branch. The main business lines in Hong Kong are Corporate and Commercial Loans and Trade Finance.
Scotiatrust (Asia) Limited operations include the provision of trust/company administration, portfolio management, escrow agent services and distribution agent for Canadian immigrant investor funds and mutual funds. ScotiaMocatta offers a full range of precious metal loan and risk management services.
India
Scotiabank is the first Canadian Bank to establish full service branches in India. Our first branch was opened May 1984 in Mumbai (formerly Bombay). This was followed by the New Delhi branch in November 1994, Coimbatore in May 1997, Bangalore in March 1999 and Hyderabad in February 2001.
ScotiaMocatta commenced operations in the year 1997. ScotiaMocatta Precious Metals operates out of five branches in India providing both physical and deferred sales and gold loans to exporters.
We offer a broad range of corporate and commercial services along with limited retail banking services from our 5 branches.
Japan
Scotiabank has been in Japan since 1962 when a Representative Office was opened in Tokyo, Japan. This was further upgraded to a branch in 1981.
Our main business lines at the Tokyo branch are Corporate and Commercial loans and Trade Finance, while Global Banking and Markets provides investment services from our one location.
The Tokyo branch actively provides support for the development of Japanese businesses overseas within the Scotiabank network.
Korea
Scotiabank is pleased to maintain a presence in the Republic of Korea. Through our branch in Seoul, we offer services including commercial, corporate, foreign exchange, trade finance and some retail banking services.
Malaysia
Kuala Lumpur
The Bank of Nova Scotia Berhad is a wholly owned subsidiary of Scotiabank, one of North America's premier financial institutions and Canada's most international bank. It commenced operations in Malaysia as a branch in 1973. The Branch was subsequently converted to a wholly owned locally incorporated Bank in 1994. This location offers retail, commercial and trade finance services with some restrictions on currency, loan size and non-resident facilities.
Labuan
In 1989, the Government of Malaysia decreed the island of Labuan as an International Offshore Financial Centre (IOFC), providing a location for financial institutions to conduct offshore banking, insurance, trust and fund management services in foreign currencies.
The Bank of Nova Scotia, Labuan Branch was incorporated as an offshore bank in the IOFC, and it commenced operation in 1996. This location offers corporate and commercial multi-currency loans and trade finance (bank guarantee) facilities.
Singapore
BNS Singapore offers a wide range of services to customers. The Bank of Nova Scotia Asia Limited (BNSAL) was incorporated in 1979. As a merchant bank, BNSAL has the flexibility to offer a wide range of financial services to customers. Our principal activities are corporate banking, treasury, syndications and loan agency services.
Our ScotiaMocatta location provides precious metals sales.
Taiwan
Scotiabank set up the Taipei Representative Office in Taipei city in 1987. It was then upgraded to a full branch in June 1990. The establishment of Taipei Branch has enabled Scotiabank to increase its international presence in the fast growing emerging market whose international trade and the local economy had exhibited strong growth over the past decades. It has also offered substantial opportunities for the Bank to grow its business in Taiwan.
The Branch services offered are corporate, commercial, trade finance, correspondent banking, and limited retail services. The Offshore banking unit provides wholesale credit and deposit services to non-resident businesses with Taiwan connections.
Thailand
Scotiabank's presence in Thailand began with a representative office in Bangkok in 1981. In February of 1994, this office was upgraded to a restricted licenced Bank, operating under the name of Scotiabank Bangkok International Banking Facility (BIBF).
Four years later in July 1998, Scotiabank was granted a full branch banking licence to open its full service branch in Bangkok in addition to the BIBF. The branch offers foreign currency and Thai Baht loans and deposits, Trade Finance and Foreign Exchange Services. The BIBF provides corporate and commercial foreign currency loans on bilateral or syndicated basis to resident or non-resident companies.
Vietnam
Scotiabank is proud to be the only Canadian bank operating in Vietnam. Our Representative Office in Hanoi has no direct banking services.
Central & South America - expand for more details
Belize
Scotiabank's first office in Belize City opened on December 8, 1968.
Ever since, Scotiabank has been expanding rapidly and continuously. We offer an extensive range of retail & commercial banking services. To date, we have over 130 employees and 9 branches countrywide.
Locally incorporated on July 1, 2003, Scotiabank (Belize) Ltd plans to continue growing.
Brazil
Scotiabank is proud to be the only Canadian bank operating in São Paulo. Our Representative Office does not offer direct banking services, but provides a full range of services through other Scotiabank offices and/or affiliates.
Chile
Banco Sud Americano was founded in 1944.
The evolution of Banco Sud Americano began quickly and has expanded throughout the nation.
Scotiabank Group first purchased shares in the company in 1990. In 2000, by way of a public offering (Oferta Pública de Acciones - OPA), together with shareholder negotiations, Scotiabank was allowed to take control of 98% of Banco Sud Americano's equity and change its name to Scotiabank Sud Americano.
Scotiabank Sud Americano currently operates 56 branches and is the 7th largest private bank in Chile offering corporate, commercial and retail services.
Costa Rica
The Bank commenced operations in Costa Rica in 1995.
Initial activities centred around the transition to Scotiabank culture and business process, and the establishment of commercial banking activities to complement existing vehicle finance business.
Scotiabank de Costa Rica, S.A. has 17 branches and a network of over 30 ATMs in branches and offsite.
El Salvador
Scotiabank El Salvador was founded in 1997 with the acquisition of Banco Ahorromet and by 2000 had approx. 20 branches.
With a major interest in expanding operations in El Salvador, by May 2005, Scotiabank El Salvador had acquired 98% of Banco de Comercio and subsidiaries. With this recent merge, Scotiabank El Salvador has become the third largest bank in the country, with 67 branches.
Scotiabank's presence in Central America became solidified with a majority-controlled interest in Scotiabank El Salvador and in Scotiabank de Costa Rica. That presence continues to grow today with the acquisition of Banco de Comercio de El Salvador.
Scotiabank El Salvador offers customers a wide range of competitive financial products, including traditional bank operations.
Guyana
Scotiabank opened its first branch in Georgetown, Guyana in September 1968.
In 1994, the Bank purchased the plot of land at 104 Carmichael Street and began construction of our main branch. In 1996, this building which housed our Commercial Banking Center and Guyana's first Drive Thru' banking facility was opened. That same year, the Bank expanded its operations beyond Georgetown when the Berbice branch was opened. In 1998, the Bank added additional branches in the Parika area and relocated the Regent & Hinck Streets operations to the Robb Street location. In 1999, the Bartica branch was opened.
Panama
The Bank of Nova Scotia commenced operations in Panama City in October 1974. The Branch was initially focused on local commercial and some retail business.
In 1995, the Branch was transformed to a Commercial Banking Center, focusing on Panama's largest commercial and corporate entities.
From 1997 to 2001, Scotiabank in Panama expanded quite rapidly in terms of staffing, assets and profits. In 1999, the Bank renewed its focus on retail business, when it established a presence in the market as a residential mortgage lender.
In 2004, Scotiabank opened its first/additional Branch - El Dorado, located at Calle Miguel Brostella, Camino de Cruces. Currently, Scotiabank Panama has a total staff of approximately 60 with further expansion planned.
Scotiabank is proud to be the only Canadian bank with a presence in Panama, enjoying a good and solid reputation in the banking community.
Peru
Scotiabank is proud to maintain a strong presence in Peru through our affiliate, Banco Sudamericano S.A. As one of Peru's largest bank, Banco Sudamericano, with 31 branches throughout Lima, offers a full range of corporate, commercial and retail banking services.
Venezuela
Scotiabank is proud to have a strong presence in Venezuela through our Representative Office and our affiliate, Banco del Caribe. With 119 branches across the country, Banco del Caribe is universal and the 6th largest bank in Venezuela. It offers a complete range of corporate, commercial and retail banking services.
For more information about Scotiabank's business lines and their capabilities, as well as Scotiabank Group's international presence, feel free to look at our International section.