Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Scotiabank shopping experience:
1. Compare - without doubt the biggest advantage that the Scotiabank offers shoppers today is the ability to compare thousands of Scotiabank at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.
2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about
3. Testimonials - don't know anybody that has bought a Scotiabank? Wrong! If the Scotiabank is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.
4. Questions - Got a question about Scotiabank then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....
5. Reputation - Never heard of the company selling Scotiabank? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Scotiabank and build up a picture of their reputation for sales, returns, customer service, delivery etc.
6. Returns - still worried that even after all of the above your Scotiabank wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.
7. Feedback - happy with your Scotiabank then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.
8. Security - check for the yellow padlock on the Scotiabank site before you buy, and the s after http:/ /i.e. https:// = a secure site
9. Contact - got a question about Scotiabank, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.
10. Payment - ready to pay for your Scotiabank, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.
{{Infobox_Company | company_name = The Bank of Nova Scotia |
company_logo = ] |
company_type = [Public company |
foundation = [Halifax Regional Municipality, Nova Scotia |
location = [Toronto, Ontario |
key_people = Rick Waugh - President & CEO |
industry = [Bank |
products = [Financial services |
revenue = {{profit-->[Canadian dollar 11.6 billion (2006) |
num_employees = 53,937 |
homepage = http://www.scotiabank.com/
-->
Scotiabank (Banque Scotia) ( ), formally known as
The Bank of Nova Scotia is one of Canada's Big Five banks. It is the third largest bank in Canada by assets (behind the Royal Bank of Canada and TD Bank Financial Group), and the second largest by
market capitalization (behind Royal Bank of Canada). It is Canada's most international bank, having branches in more countries than the other major Canadian banks.
History
. This structure was erected in 1907.Founded in City of Halifax,
Nova Scotia in
1832, the bank launched its
branch (banking) by opening in Windsor, Nova Scotia,
Nova Scotia. The expansion was limited to the Maritime Provinces until 1882, when the bank moved west by opening a branch in Winnipeg, Manitoba,
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 and
Chicago.
Scotiabank also operates locations throughout
Mexico under the name "Scotiabank 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 and Labrador – 55 years before the dominion joined Confederation.
Early international expansion
,
Cuba
- 1885 - The bank opens its first branch outside Canada in Minneapolis.
- 1889 - The bank opens a branch in Kingston, Jamaica, the first branch of a Canadian bank outside Canada, the US, or the UK. By 1931 it has 12 branches in Jamaica.
- 1892 - The bank closes its branch in Minneapolis and transfers the business to the agency that it opens in Chicago, Illinois.
- 1899 - The bank opens a branch in Boston.
- 1906 - The bank opens a branch in Havana, Cuba. By 1931 it has three branches in Havana, and one branch each in Camaguey, Cienfuegos, Manzanilla, and Santiago de Cuba.
- 1907 - The bank opens an agency in New York.
- 1910 - The bank opens a branch in San Juan, Puerto Rico, Puerto Rico, and later another one in Fajardo.
- 1920 - The bank opens a branch in London, and another in Santo Domingo, Dominican Republic.
In its early expansion the bank clearly followed trade and its customers' business, rather than pursuing a strategy of expansion into international financial centres.
Scotiabank is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their
Automated teller machine card or check card at another bank within the Global ATM Alliance with no fees when traveling internationally. Other participating banks are Barclays (
United Kingdom), Bank of America (United States), BNP Paribas (France), China Construction Bank (China), Deutsche Bank (Germany), Santander Serfin (
Mexico) and
Westpac (Australia and
New Zealand). "Five big banks form Global ATM Alliance", ATMmarketplace.com.
January 9, 2002. Accessed
June 22,
2007.
Mergers
The Bank has amalgamated with several other Canadian financial institutions through the years:{|!Bank!Year established!Year of amalgamation|-|Union Bank of PEI|1864|1883|-|Summerside Bank| 1863| 1901|-|Bank of New Brunswick|1902|1914|-|The Bank of Ottawa|1874|1919|-|[Montreal Trust Company|1889|1994|-|National Trust Company|1898|1997|-|
National Bank of Greece|1969|2005|}
Many former branches of Montreal Trust and National Trust were rebranded "Scotiabank & Trust", and continue to operate as such.
Operating Units
, Scotiabank Headquarters in
Toronto, Ontario, CanadaScotiabank has four divisions:
- Domestic Banking is the commercial banking division, offering savings and loan services. It includes 970 branches , 2,750 ABMs, and 3 call centres. It offers telephone, wireless and Internet banking. Their mortgage broker 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 (formerly known as McLeod, Young and Weir), and metals trading is done under the name of ScotiaMocatta.
- 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.
In 2005, Scotiabank services over 12 million customers and has over 286 billion dollars in assets. The bank employs over 57,000 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 50 countries. As in the past, in 2006 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. .
Current Events
- In 2006 Scotiabank was awarded the title as the official bank for the International Cricket Council's 2007 Cricket World Cup. During the event, several stadia and venuesacross the Caribbean (and Guyana in South America) are to become outfited with Scotiabank Automated teller machines.
- On November 6th, 2006, two homemade bombs were placed within Scotiabank branches in Mexico City. One exploded, resulting in no deaths, while a second bomb was de-activated. Authorities were previously alerted to the presence of the bombs. A coalition of five leftist guerilla groups which support (but do not lead) 2006 Oaxaca protests claimed responsibility.
- In December, 2006 Scotiabank announced it successfully acquired majority control of the fourth largest Jamaica-based Securities dealer Dehring Bunting & Golding Ltd. (DB&G) ending weeks of speculation about the bid on the Jamaica Stock Exchange. The deal is expected to cost the Bank of Nova Scotia and it's Jamaican subsidiary between C$80 - $90 Million dollars to close the deal. , , , ,
- 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 have the ability to merge their bank accounts and Scene accounts to collect points when they use their cards. A SCENE VISA card will be launched in early May. In addition, 5 Cineplex Entertainment locations were rebranded as "Scotiabank Theatres".
- On August 31, 2007 Scotiabank announced it has signed agreements to purchase 79 per cent of Banco del Desarrollo, Chile's seventh largest bank for US$810 million. These agreements are the first stage in a plan to purchase up to 100 per cent of Banco del Desarrollo. Scotiabank will be making a public share offering on the same terms and expects to acquire up to 100 per cent of Banco del Desarrollo, which would be valued at US$1.03 billion.
- As of October, 2007 Scotia Bank has now branded itself with Hockey Night in Canada.
Awards
- 2005 - "Bank of the Year" - For Mexico, the Caribbean and in Jamaica by Latin Finance (magazine) .
Corporate governance
Current members of the
board of directors of Scotiabank are: Ronald Brenneman, C.J. Chen,
N. Ashleigh Everett, John Kerr (businessman), Michael J. L. Kirby,
Laurent Lemaire,
John Mayberry (businessman),
Barbara McDougall,
Elizabeth Parr-Johnston,
Arthur Scace,
Gerald Schwartz,
Allan Shaw,
Paul Sobey, Barbara Thomas, and Richard Waugh (businessman).
Former members of the board include: Peter Godsoe and Cedric Ritchie (Former Chairman).
Executive Officers
- Richard E. Waugh, President and Chief Executive Officer
- Robert W. Chisholm, Vice-Chairman, Scotiabank, and President and CEO, Domestic Banking and Wealth Management
- W. David Wilson, Vice-Chairman Scotiabank and Chairman and CEO, Scotia Capital
- Robert L. Brooks, Senior Executive Vice-President, Treasury and Operations
- Sarabjit S. Marwah, Vice-Chairman and Chief Administrative Officer
- Deborah M. Alexander, Executive Vice-President, General Counsel and Secretary
- Tim Hayward, Executive Vice-President and Chief Administrative Officer International Banking
- Luc A. Vanneste, Executive Vice-President and Chief Financial Officer
- Kim B. McKenzie, Executive Vice-President, Information Technology and Solutions
- Robert H. Pitfield, Executive Vice-President, International Banking
Unionization
Scotiabank has unionized relationships with employees in a number of locations around the world. In Canada, the sole unionized workplace is the domestic banking branch in
Deep River, Ontario. In 2005 the bank successfully defended an attempt by workers in its collection centre to join a trade union.
Membership
BNS is a member of the
Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation
(CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:
Sources
Bank of Nova Scotia. 1932.
The Bank of Nova Scotia, 1831-1932. Halifax: Bank of Nova Scotia.
See also
References
External links
- Official site
- Scotiabank Annual Reports
- Scotiabank stock performance chart
- Montreal Trust Company of Canada and National Trust
- Scotiabank Mortgage Corp
- Yahoo! - The Bank of Nova Scotia Company Profile
- Scotiabank Corporate Profile
- ScotiaMcLeod Direct Investing (Self-Managed Brokerage)
- ScotiaMcLeod (Full-Service Brokerage)
- Scotia Private Client Group
{{Infobox_Company | company_name = The Bank of Nova Scotia |
company_logo = ] |
company_type = [Public company |
foundation = [Halifax Regional Municipality, Nova Scotia |
location = [Toronto, Ontario |
key_people = Rick Waugh - President & CEO |
industry = [Bank |
products = [Financial services |
revenue = {{profit-->[Canadian dollar 11.6 billion (2006) |
num_employees = 53,937 |
homepage = http://www.scotiabank.com/
-->
Scotiabank (Banque Scotia) ( ), formally known as
The Bank of Nova Scotia is one of
Canada's Big Five banks. It is the third largest bank in
Canada by
assets (behind the Royal Bank of Canada and
TD Bank Financial Group), and the second largest by market capitalization (behind
Royal Bank of Canada). It is Canada's most international bank, having branches in more countries than the other major Canadian banks.
History
. This structure was erected in 1907.Founded in City of Halifax,
Nova Scotia in 1832, the bank launched its branch (banking) by opening in Windsor, Nova Scotia,
Nova Scotia. The expansion was limited to the Maritime Provinces until 1882, when the bank moved west by opening a branch in Winnipeg, Manitoba,
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 and Chicago.
Scotiabank also operates locations throughout
Mexico under the name "Scotiabank 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 and Labrador – 55 years before the dominion joined Confederation.
Early international expansion
, Cuba
- 1885 - The bank opens its first branch outside Canada in Minneapolis.
- 1889 - The bank opens a branch in Kingston, Jamaica, the first branch of a Canadian bank outside Canada, the US, or the UK. By 1931 it has 12 branches in Jamaica.
- 1892 - The bank closes its branch in Minneapolis and transfers the business to the agency that it opens in Chicago, Illinois.
- 1899 - The bank opens a branch in Boston.
- 1906 - The bank opens a branch in Havana, Cuba. By 1931 it has three branches in Havana, and one branch each in Camaguey, Cienfuegos, Manzanilla, and Santiago de Cuba.
- 1907 - The bank opens an agency in New York.
- 1910 - The bank opens a branch in San Juan, Puerto Rico, Puerto Rico, and later another one in Fajardo.
- 1920 - The bank opens a branch in London, and another in Santo Domingo, Dominican Republic.
In its early expansion the bank clearly followed trade and its customers' business, rather than pursuing a strategy of expansion into international financial centres.
Scotiabank is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their Automated teller machine card or
check card at another bank within the Global ATM Alliance with no fees when traveling internationally. Other participating banks are
Barclays (United Kingdom),
Bank of America (United States),
BNP Paribas (
France), China Construction Bank (
China), Deutsche Bank (Germany), Santander Serfin (
Mexico) and
Westpac (Australia and New Zealand). "Five big banks form Global ATM Alliance", ATMmarketplace.com.
January 9, 2002. Accessed June 22,
2007.
Mergers
The Bank has amalgamated with several other Canadian financial institutions through the years:{|!Bank!Year established!Year of amalgamation|-|Union Bank of PEI|1864|1883|-|Summerside Bank| 1863| 1901|-|
Bank of New Brunswick|1902|1914|-|The Bank of Ottawa|1874|1919|-|[Montreal Trust Company|1889|1994|-|
National Trust Company|1898|1997|-|
National Bank of Greece|1969|2005|}
Many former branches of Montreal Trust and National Trust were rebranded "Scotiabank & Trust", and continue to operate as such.
Operating Units
, Scotiabank Headquarters in
Toronto, Ontario,
CanadaScotiabank has four divisions:
- Domestic Banking is the commercial banking division, offering savings and loan services. It includes 970 branches , 2,750 ABMs, and 3 call centres. It offers telephone, wireless and Internet banking. Their mortgage broker 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 (formerly known as McLeod, Young and Weir), and metals trading is done under the name of ScotiaMocatta.
- 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.
In 2005, Scotiabank services over 12 million customers and has over 286 billion dollars in assets. The bank employs over 57,000 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 50 countries. As in the past, in 2006 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. .
Current Events
- In 2006 Scotiabank was awarded the title as the official bank for the International Cricket Council's 2007 Cricket World Cup. During the event, several stadia and venuesacross the Caribbean (and Guyana in South America) are to become outfited with Scotiabank Automated teller machines.
- On November 6th, 2006, two homemade bombs were placed within Scotiabank branches in Mexico City. One exploded, resulting in no deaths, while a second bomb was de-activated. Authorities were previously alerted to the presence of the bombs. A coalition of five leftist guerilla groups which support (but do not lead) 2006 Oaxaca protests claimed responsibility.
- In December, 2006 Scotiabank announced it successfully acquired majority control of the fourth largest Jamaica-based Securities dealer Dehring Bunting & Golding Ltd. (DB&G) ending weeks of speculation about the bid on the Jamaica Stock Exchange. The deal is expected to cost the Bank of Nova Scotia and it's Jamaican subsidiary between C$80 - $90 Million dollars to close the deal. , , , ,
- 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 have the ability to merge their bank accounts and Scene accounts to collect points when they use their cards. A SCENE VISA card will be launched in early May. In addition, 5 Cineplex Entertainment locations were rebranded as "Scotiabank Theatres".
- On August 31, 2007 Scotiabank announced it has signed agreements to purchase 79 per cent of Banco del Desarrollo, Chile's seventh largest bank for US$810 million. These agreements are the first stage in a plan to purchase up to 100 per cent of Banco del Desarrollo. Scotiabank will be making a public share offering on the same terms and expects to acquire up to 100 per cent of Banco del Desarrollo, which would be valued at US$1.03 billion.
- As of October, 2007 Scotia Bank has now branded itself with Hockey Night in Canada.
Awards
- 2005 - "Bank of the Year" - For Mexico, the Caribbean and in Jamaica by Latin Finance (magazine) .
Corporate governance
Current members of the board of directors of Scotiabank are:
Ronald Brenneman, C.J. Chen,
N. Ashleigh Everett, John Kerr (businessman), Michael J. L. Kirby, Laurent Lemaire,
John Mayberry (businessman),
Barbara McDougall, Elizabeth Parr-Johnston,
Arthur Scace,
Gerald Schwartz,
Allan Shaw,
Paul Sobey,
Barbara Thomas, and Richard Waugh (businessman).
Former members of the board include:
Peter Godsoe and
Cedric Ritchie (Former Chairman).
Executive Officers
- Richard E. Waugh, President and Chief Executive Officer
- Robert W. Chisholm, Vice-Chairman, Scotiabank, and President and CEO, Domestic Banking and Wealth Management
- W. David Wilson, Vice-Chairman Scotiabank and Chairman and CEO, Scotia Capital
- Robert L. Brooks, Senior Executive Vice-President, Treasury and Operations
- Sarabjit S. Marwah, Vice-Chairman and Chief Administrative Officer
- Deborah M. Alexander, Executive Vice-President, General Counsel and Secretary
- Tim Hayward, Executive Vice-President and Chief Administrative Officer International Banking
- Luc A. Vanneste, Executive Vice-President and Chief Financial Officer
- Kim B. McKenzie, Executive Vice-President, Information Technology and Solutions
- Robert H. Pitfield, Executive Vice-President, International Banking
Unionization
Scotiabank has unionized relationships with employees in a number of locations around the world. In Canada, the sole unionized workplace is the domestic banking branch in
Deep River, Ontario. In 2005 the bank successfully defended an attempt by workers in its collection centre to join a trade union.
Membership
BNS is a member of the
Canadian Bankers Association (CBA) and registered member with the
Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:
Sources
Bank of Nova Scotia. 1932.
The Bank of Nova Scotia, 1831-1932. Halifax: Bank of Nova Scotia.
See also
References
External links
- Official site
- Scotiabank Annual Reports
- Scotiabank stock performance chart
- Montreal Trust Company of Canada and National Trust
- Scotiabank Mortgage Corp
- Yahoo! - The Bank of Nova Scotia Company Profile
- Scotiabank Corporate Profile
- ScotiaMcLeod Direct Investing (Self-Managed Brokerage)
- ScotiaMcLeod (Full-Service Brokerage)
- Scotia Private Client Group
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