Wednesday, October 20, 2010

scotia bank online

Posted by OurTech Team | Wednesday, October 20, 2010 | Category: , , |

The Bank of Nova Scotia (in French, Banque de Nouvelle-Écosse, and commonly Scotiabank in English and Banque Scotia in French) is the third largest bank in Canada by deposits and market capitalization. The bank was founded in 1832 in Halifax, Nova Scotia, but has since moved its executive offices to Toronto, Ontario. Scotiabank has billed itself as "Canada's International Bank" due to its acquisitions primarily in Latin America and the Caribbean, but also in Europe and India as well.
The company ranks at number 92 on the Forbes Global 2000 listing[1] and is currently under the leadership of Richard E. Waugh who serves both in the capacity of President and CEO.
Scotiabank has been active in the third quarter of 2010 purchasing two large Latin American units in Chile and Brazil from European banks in the United Kingdom and Germany, respectively.

Founded in Halifax, Nova Scotia in 1832, under the name of the Bank of Nova Scotia, to facilitate the trans-Atlantic trade of the time.[2] The bank launched its branch banking system by opening in Windsor, Nova Scotia. The expansion was limited to the Maritime Provinces until 1882, when the bank moved west by opening a branch in Winnipeg, Manitoba. The Manitoba branch later closed but the experience of doing business in a grain-town encouraged the Bank to expand into the American Midwest, including Minneapolis in 1885 and Chicago in 1892.[2]
Scotiabank also operates locations throughout Mexico, after the purchase of the Mexican bank Inverlat, and deals in all aspects of personal banking, business banking, and property and auto loans.
By 1900, The Bank of Nova Scotia had opened 38 branches across Canada, the United States and Jamaica. In Canada, the Bank was represented in all of the Maritime Provinces, Quebec, Ontario and Manitoba. In 1892, the Bank of Nova Scotia became the first Canadian bank to establish in Newfoundland – 55 years before the dominion joined Confederation.

Scotiabank has four divisions:

* Canadian Banking is the commercial banking division, offering savings and loan services. It includes 1009 branches , 2,750 ABMs, and 3 call centres. It offers telephone, wireless and Internet banking. Their brokerage unit is called the Wealth Management Group.

* Scotia Capital Inc. is the investment banking division, which helps large corporations, institutions, and governments obtain capital and credit. The Canadian investment banking division is known as ScotiaMcLeod and was formerly known as McLeod Young Weir Co. & Ltd., a company started by four young entrepreneurs: Donald Ivan McLeod, William Ewart Young, James Gordon Weir, and John Henry Ratcliffe. Metals trading is done under the name of ScotiaMocatta. Scotia Waterous is the well-regarded M&A division that operates exclusively within the oil & gas industry.

* International Banking is the merchant banking division, assisting its customers with international trade. Scotiabank's marketing material claims it is the leading provider of financial services in the Caribbean, and that it has the broadest Asian network of any Canadian bank.

* e-Commerce/e-Banking at Scotiabank manages wire transfers and payments.

As of 2009, Scotiabank services over 12.5 million customers and has over 500 billion dollars in assets. The bank employs over 69,000 employees all over the globe including: Europe, Asia, Latin America and the Caribbean. Scotiabank is Canada's most international bank with over 2000 branches in some 50 countries. As in the past, in 2009 some of the top management at Scotiabank announced a plan that it would once again play a part in general infrastructural development in the countries where it operates.[5]


* Scotiabank is now the title sponsor of Calgary's Scotiabank Saddledome as of 08 October 2010

* Scotiabank currently is the title sponsor for running events that are part of the Canada Running Series: Scotiabank Montreal 21k & 5k (April), Vancouver Half-Marathon & 5k Run/Walk (June) & Toronto Waterfront Marathon, Half-Marathon & 5k (September) and the Scotiabank Bluenose Marathon.[6]

* As of October 2007, Scotiabank became a sponsor of CBC Television's Hockey Night in Canada, and the title sponsor of its Gemini award winning pregame show, Scotiabank Hockey Tonight.[7]

* Scotiabank also is currently the Official Bank of the National Hockey League and National Hockey League Players' Association.[8] And the official bank of the NHLPA, the NHL Alumni, the Canadian Women's Hockey League. Additionally, Scotiabank sponsors the Little NHL (native hockey league) and several girl's hockey festivals across Canada.

* Currently has the naming rights to the arena of the Ottawa Senators, branding it Scotiabank Place.

* Scotiabank can be seen as a primary sponsor for Champion Boxer Miguel Cotto during his 2009 bout with Manny Pacquio

* In 2006 Scotiabank was awarded the title as the official bank for the ICC's 2007 Cricket World Cup. During the event, several stadia and venues across the Caribbean (and Guyana in South America) are to become outfited with Scotiabank automated banking machines.[9]

* Since 2005, Scotiabank has been the title sponsor of the CFL playoffs semi-final and conference final games, with games titled as the Scotiabank East Semi-Finals and Scotiabank West Semi-Finals. This is in addition to being the official financial services provider to the Canadian Football League.

* Since 2008, Scotiabank has been the official team sponsor of Canadian Cricket Team and the title sponsor of National T20 Championship in Canada.

* In 2010, Scotiabank was a sponsor of the World Rally Championship's Corona Rally Mexico.

[edit] Culture

* In 2007, Scotiabank and Cineplex Entertainment partnered up to create a loyalty rewards program called SCENE. The program allows patrons to sign-up for a special card that grants them points which can be redeemed for free movies or concession discounts. Scotiabank customers can also request for a SCENE debit card which gives them points when used. A SCENE VISA card was also launched in early May. In addition, 5 Cineplex Entertainment locations were rebranded as "Scotiabank Theatres".[10]

* For 2007 and 2008, Scotiabank has been the title sponsor of the Scotiabank Nuit Blanche event in Toronto. [1]

* Title sponsor, Scotiabank Giller Prize. [2]

* Scotiabank Hall of Brock University in St. Catharines, Ontario.

* Scotiabank Hall in the Marion McCain Arts and Social Sciences Building at Dalhousie University in Halifax, Nova Scotia

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