Bank of Nova Scotia

Description

The Bank of Nova Scotia, also known as Scotiabank, is a Schedule I chartered bank providing banking and investment services across North America, Europe and the rest of the world.

The bank is reportedly the second oldest and one of the top financial institutions in North and South America.

Formed through a charter in 1832, Scotiabank presently provides a full range of financial advice and banking solutions, including wealth management, corporate and investment banking, personal and commercial banking, and capital markets.

Scotiabank operations through four business segments:

• International Banking
• Canadian Banking
• Global Banking and Markets
• Global Wealth Management

The other segment includes smaller operating units, net gain/loss on divestitures, group treasury, and other corporate items.

Under the personal and commercial segment, Scotiabank provides financial solutions to individuals, small-and-medium-sized businesses, and commercial entities.

The bank further provides day-to-day banking products, such as debit cards, checking account, student loans, etc.

Investment products include guaranteed investment certificates (GICs), mutual funds, exchange-traded funds, etc.

The Canadian banking segment provides services through its network of around 953 branches, over 3600 automated banking machines (ABMs), and online and telephone banking.

The bank provides wealth management solutions in nearly 14 countries through Scotia Wealth Management™, Scotia iTRADE®, Jarislowsky Fraser, a wholly-owned subsidiary of Scotiabank.

The Global Banking and Markets, a full-service wholesale bank, caters to corporate, government and institutional clients.

The bank’s international segment has a presence in 45 countries with more than 15 million retail, corporate and commercial customers.

Scotiabank is counted among the top six banks in Canadian. In 2021, the financial institution was reportedly named as the Best Foreign Exchange Provider in the country.

The Canadian bank is listed on the New York Stock Exchange as well as the Toronto Stock Exchange under the ticker of 'BNS'.

The bank is also included in the S&P/TSX 60 component.