It is one of the most relevant banking institutions in Canada and is the one with the most international branches. It offers personal, commercial, and corporate banking services to clients and companies in several countries of the world.
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The entity was created in 1832 under the name of Bank of Nova Scotia in Halifax, Nova Scotia. The bank was established by the need to activate an institution capable of providing financial services (nationally and internationally). It expanded rapidly in Canada and also internationally (the United States was one of them).
It continued its expansion by opening offices in Canada (Nova Scotia, Manitoba), the United States and the United Kingdom. In the early 1900s, the entity moved to its headquarters in Toronto, Ontario (as today). Subsequently, It established more branches in the northern part of America, precisely in Cuba, Puerto Rico, and the Dominican Republic. To grow even more within the country in terms of the banking operations it offered, it merged with the Bank of Ottawa in 1919. In 1975, it was established as Scotiabank.
Apart from expanding, it also expanded the range of banking activities offered. It began to provide retail and corporate banking in the 1980s. In the following years, it acquired several prestigious banking institutions for the growth of Scotiabank. It bought McLeod Young Weir, Banco Intercontinental (Dominican Republic), Banco Wiese Sudameris (Peru), Nuevo Banco Comercial (Uruguay), Colpatria (Colombia), BBVA Chile (Chile) and more.
The Swift Code is the set of characters that identify the bank during an international money transfer: NOSCCATT.
Number of Employees
Currently, it has the participation of over 90,000 employees.
The rating is the evaluation of a bank and the risks it can take in case of not paying a debt. Moody’s, S&P, and Fitch are the agencies in charge of it.
Scotiabank has a rating of:
- S&P = A+.
- Moody’s = Aa2.
- Fitch = AA-.
A+ (S&P Global) = It means that the economic situation could affect the financing.
Aa2 (Moody’s) = It has high quality and with a little more risk to long-term risks.
AA- (Fitch) = It means that the bank has very high security.
Scotiabank has its office in Toronto, Canada.
The website of the Scotiabank is http://scotiabank.com
- Personal Banking: It provides general and private customers the opportunity to enjoy bank accounts, credit cards, mortgages, loans, investments, insurance, and any other basic banking operation.
- Business Banking: It allows people with small businesses to enjoy banking activities such as deposits, savings, transactions, payments, loans, and more. Also, it offers any service and commercial financing.
- Address: Scotia Plaza, 40 King Street West, Toronto, ON, M5H 1H1.
- Phone Number: 1-800-472-6842, (416) 701-7200 (Outside of Canada).