The bank of Nova Scotia is situated in Toronto, Ontario, Canada and caters to more than 23 million customers.
It is one of the largest banks in Canada by deposits and market capitalization after Royal bank of Canada. The bank was established in Halifax, Nova Scotia in 1832 by William Lawson, and currently, Mr Brian J.Porter is the president of the bank and Mr Gerald W Owen is the Managing Director.
Along with Royal Bank of Canada, TD bank, Bank of Montreal and CIBC; the bank of Nova Scotia is one of Canada’s Big five banks. The bank number or Institution Number of Royal Bank of Canada is 002.
Scotia bank has more than 1,700 offices in more than 50 countries. The company has around 1,000 domestic branches. Apart from Canada, the bank has presence in Caribbean, Central and South America. The bank provides a portfolio of financial product services that include deposit accounts, loans, asset management, mutual funds etc. With assets under management exceeding more than 895 bn CAD, the company trades on the New York and Toronto Exchanges.
A diversified financial services sector company, Bank of Nova Scotia offers variety of services. The company is into 4 different segments: Wealth management (in which the company provides specialized services to ultra or high net worth individuals or institutions), Retail, Small Business and Commercial banking (which is the retail banking arm of the company to serve the general customers with personal and business banking operations), and finally Global banking and Markets (that provide Investment, Capital Markets and Global banking solutions).
The Bank of Nova Scotia’s sales turnover in Canada was 24.4 Billion Canadian dollars in 2015. The company earned 7.2 Billion Canadian dollars profit. The company has team of more than 89,000 employees.