In the extremely competitive banking industry of Canada, Bank of Nova Scotia or Scotia bank as its commonly known is considered to be the most international bank of Canada with presence across the world including india.
It is third largest bank in terms of market capitalization. Canada as we know is an amalgamation of 10 districts, Nova Scotia being one of them. This bank was established in Nova Scotia in 1832. It slowly expanded to other provinces of Canada and established some branches in the US. Unlike its comtemparies, it followed a consumer trade model and refrained from expanding into financial markets. It expanded its retail business through series of mergers and it followed an acquisition approach while entering other countries too. Currently its business operations are divided into four major units namely Canadian Banking, International Banking, Global Wealth and Insurance and Global Banking and Markets. It has kept operations of Canada separate from its global units due to large retail presence.
BNS is also part of majority of payment consortium across the world and provides payment services to other small banks too. It has around 3000 branches with presence in 55 countries. It shifted its headquarter from Halifax to Toronto following other major banks of Canada. It is known for winning major awards like Bank of the year across various markets like Latin America, Mexico, Carribean where it is still growing. It is also is a big sponsor of sports events in Canada. It is one of the four banks responsible for London gold price fixing.