The Bank of Nova Scotia, better known as Scotiabank, was established in Halifax, Nova Scotia in 1832. After more than century and a half of banking experience, the company has managed to amass about 7.5 million customers within Canada, and another 7.1 million in 50 other countries (making it Canada's most international bank). Scotiabank currently has 1,019 branches, nearly 3,000 automated banking machines (ABMs), and over 100 Wealth Management offices within Canada.

Internationally, the group employs 46,000 at more than 1,900 subsidiary branches, and approximately 3,500 international automated banking machines throughout the regions of the Caribbean, Central America, Latin America, Mexico, and Asia. As the third largest bank in Canada, and one of North America's premier financial institutions, Scotiabank currently holds about $500 billion in assets, $350 billion in deposits, and employs approximately 68,000 people. Scotiabank Group provides a broad range of personal, commercial, and corporate & investment banking products and services.

Scotiabank Operational Divisions
The Scotiabank Group operates publicly through 3 main divisions Retail and Small Business Banking, Commercial Banking, and Wealth Management. The Retail and Small Business Banking division offers loans, mortgages, credit cards, insurance, investments, and checking & savings accounts to small businesses and individuals. The Commercial Banking division offers banking solutions for medium-large sized businesses, with products and services geared towards agricultural, real estate, leasing, franchising, and automotive lending. The Commercial Banking branch also includes custom-tailored solutions provided through the Roynat Capital brand. The Wealth Management division provides a wide range of products and services, including investment management advice, retail brokerage, financial, trust & estate planning, mutual funds, savings products, and private client services for professionals. Scotiabank Group also offers wholesale banking products and services to corporate, government and institutional investors through Scotia Capital, the group's wholesale banking arm

History of Scotiabank
Scotiabank was founded in Halifax, Nova Scotia in 1832 as the Bank of Nova Scotia. The bank then expanded into the Maritime Provinces until 1882, when they opened a branch in Winnipeg, Manitoba. Scotia Group then expanded into the American Midwest, establishing branches in Minneapolis (in 1885) and Chicago (in 1892). Also in 1892, the bank became the first to establish a branch in Newfoundland, Canada, more than 55 years before any other bank. By the turn of the century, the Bank of Nova Scotia had opened 38 branches throughout Canada, the U.S. and Jamaica. By this time, the bank had a presence in all of the Maritime Provinces, as well as Quebec, Ontario, and Manitoba. The Bank of Nova Scotia has steadily grown during the past century through the following 11 key mergers and acquisitions.

1883 - Union Bank of PEI
1901 - Summerside Bank
1913 - Bank of New Brunswick
1914 - Metropolitan Bank of Canada
1919 - The Bank of Ottawa
1994 - Montreal Trust
1997 - National Trust
2003 - Inverlat (Mexico)
2005 - National Bank of Greece (Canada)
2007 - Banco Wiesse Sudameris (Peru)
2007 - Banco Sudamericano (Peru)

Scotiabank Products and Services

On the Scotiabank web site, their products and services are split into 4 main categories Day-to-Day Banking, Borrowing, Investments, and Insurance. The 'Day-to-Day Banking' line of products and services include checking &savings, student banking, senior banking, money transfers, electronic banking, and mobile banking. The 'Borrowing' line of products and services include mortgages, equity plans, credit cards, lines of credit, personal loans, business loans, and more. The 'Investments' line of products and services includes brokerages (self-managed or full-serviced), Mutual Funds, GICs, RSPs, TFSA, RESPs, RDSPs, and more. The 'Insurance' line of products and services includes travel insurance, mortgage protection, credit insurance, life insurance, loan protection, line of credit protection and more.

Through the above operating divisions and products & services, Scotiabank successfully accommodates the banking needs of millions of clients on a daily basis, and is steadily expanding. Being one of Canada's original banks, and a current member of the 'Big Five' banks in Canada, it is likely that the bank will continue to grow its customer base within the coming decades.

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