On the eve of the 20th century Scotiabank had a strong base in the Maritimes as well as the start of a national and international network. In 1874 Saint John Branch became the first Scotiabank office outside of Nova Scotia. The Union Bank of Prince Edward Island was amalgamated in 1883.

Union Bank of Prince Edward Island $20 note

In 1882 Scotiabank began to turn its attention to markets beyond the Maritimes and a Branch was opened in

Montreal c.1920

Winnipeg, however, western operations were shifted to Minneapolis in 1885, and then to Chicago in 1892. Branches were opened in Montreal in 1888, in Kingston, Jamaica in 1889, and in St. John's, Newfoundland in 1894.

A Branch was opened in Toronto in 1897, two years later Winnipeg Branch was re-opened, and in 1900 the Bank's General Offices were relocated from Halifax to Toronto.

Operating out of its Toronto headquarters, the Bank turned its attention to Western Canada: Branches were opened in Edmonton, Calgary, and Vancouver in 1903; followed by Regina and Saskatoon in 1906.

Amalgamations

Three amalgamations with other major Banks - The Bank of New Brunswick in 1913, The Metropolitan bank in 1914, and The Bank of Ottawa in 1919 -firmly established Scotiabank as a major Canadian Bank.

Bank of New Brunswick, Saint John Staff, 1868

The Bank of New Brunswick

The Bank of New Brunswick was established on March 25, 1820 as the first Bank in Canada to operate under a charter. "The Old Bank", as it was affectionately known, was founded by some of the colony's most prominent businessmen. It was at their regular meeting place, the Exchange Coffee House on the corner of Prince William and King Streets in Saint John, that they decided that they needed the professional financial services of a bank.

Bank of New Brunswick $5 note

The Honourable John Robinson was elected the first President and a new building was erected on Prince William Street. The acquisition of the City Bank of Saint John in 1839 and the Summerside Bank of P.E.I. in 1901 expanded the Bank's network. Early in the 20th century it became apparent that The Bank of New Brunswick needed to grow to remain competitive. Lacking the capital for expansion, its shareholders unanimously accepted an offer to amalgamate with Scotiabank on February 15, 1913.

The Metropolitan Bank

The Metropolitan Bank was established, in Toronto, on November 2, 1902 by prominent Toronto businessmen

Samuel Moore, Metropolitan Bank President 1905 - 1914; Scotiabank President 1927 - 1934, Chairman 1933 - 1945.

Alfred E. Ames, Thomas Bradshaw, Chester Massey, Samuel Moore, and Robert Warden. It opened for business 15 days later from premises located at 7 - 9 King Street East in Toronto.

Over the next decade the Metropolitan Bank expanded its network throughout Southern Ontario. It also developed a close working relationship with Scotiabank. A well-run bank in the most prosperous part of Canada, it nevertheless found itself too small to compete in the growing Canadian financial market.

Metropolitan Bank $100 note

The amalgamation with Scotiabank in November 1914 added 39 new branches to Scotiabank's network and made Scotiabank the fourth largest Canadian Bank.

The Bank of Ottawa

The Bank of Ottawa was established in 1874 by several prominent Ottawa Valley lumbering families - hence its nickname: The Lumberman's Bank.

Bank of Ottawa $20 note

The Bank prospered and expanded from the Ottawa Valley to the West Coast. The expertise developed in financing the seasonal operations of

Bank of Ottawa Main Branch Staff, c.1893

the logging industry made The Bank of Ottawa a leader in financing the seasonal operations of prairie agriculture.

By 1917 it was in need of additional capital. At the same time, Scotiabank was eyeing The Bank of Ottawa's national network. Between them the two Banks had 300 Branches and duplicated each other at only eleven locations. The amalgamation was approved on April 30, 1919.