Scotiabank Domestic Banking

The Bank of Nova Scotia, most commonly known as Scotiabank, is the third largest bank in Canada and one of the top 50 employers in the country. Its devoted officials are working to provide their numerous customers with truly outstanding banking and financial services. Moreover, the bank offers some excellent career opportunities which are especially important in times of abating global recession and market stagnation. Scotiabank was founded back in 1832 in Halifax, Nova Scotia. At that time, the bank’s main purpose was to facilitate the trade between Canada and the countries on the other side of the Ocean. It came only naturally that Scotiabank first opened offices in Canada’s maritime provinces. Today, Scotiabank has a broad network of more than 950 branches and representational offices across the country and its shares are traded on the stock exchanges in Toronto and New York. Scotiabank is headquartered in Tornoto, Ontario and is headed by Mr. Richard E. Waugh, CEO.

Scotiabank Domestic Banking offers a variety of banking services and products to Canadian individuals and businesses. The bank offers mortgages, credit lines, unsecured credit cards, secured credit cards, GICs, RRSP accounts, auto loans, chequing and savings accounts to name a few. Scotiabank Domestic Banking has extensive Canadian branch network consisting of more than 950 bank branches and 2,700 ATMs. Scotiabank Domestic Banking also offers Internet banking and phone banking. To its business clients, Scotiabank offers a broad variety of banking services such as investing, business accounts, asset and cash management, and electronic banking. With the USD and CDN financial instruments, surplus funding earns from competitive interest rates. Cash management services include cash concentration, balance consolidation, and electronic cheque services, among others. The electronic banking of Scotiabank offers 24/7 access to cash, guaranteeing secure online transactions. Business operating accounts earn competitive interest rates, separately or together with other financial instruments.

The domestic banking business of Scotiabank includes its Wealth Management Group, which offers a wide variety of premium wealth management solutions such as mutual funds, retail brokerage and private banking.

In evidence of the sustainable development of Scotiabank’s domestic banking business, here is the following statistical information: the bank has reported total revenues of over one billion US dollars in the second quarter of 2010 ending June 30, which represents an increase by a full 26 per cent from the same period during the last year. As a result, Scotiabank’s shares have gained three percentage points on the stock exchanges, reaching earnings of as much as $1.02 per share. Also, Scotiabank’s consumer banking business has announced profit of $584 million during the quarter, which is an increase by 42 percent from a year ago.