In 1997, Scotiabank celebrated its 100th anniversary in Ontario. The Bank's first Ontario branch opened on November 1, 1897 in the basement of the Canada Life Building at 46 King St., West in Toronto. The Bank quickly recognized the significance of Toronto in its development and in 1900 the Board approved the transfer of the General Manager's office to Toronto.

During the following decades Scotiabank began to expand to parts of Toronto and throughout the province. A number of new branches were acquired in Ontario with the amalgamations of the Metropolitan Bank and the Bank of Ottawa. Likewise, economic development after World War II also stimulated growth for new branches in the province. By the beginning of the 1950s Scotiabank's expansion in Ontario was inevitable as the Bank worked hard to accommodate the rapidly expanding population. Today there are nearly 500 Scotiabank branches serving Ontario.