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Banque Scotia logo, used for francophone Scotiabank customers in Canada. The Bank of Nova Scotia (French: Banque de Nouvelle-Écosse), operating as Scotiabank (French: Banque Scotia), is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario.
View of a Scotiabank facade in Amherst, Nova Scotia.This structure was erected in 1907. Banking in Canada began to migrate in earnest from colonial overseas banking operations to a local banking system with the founding of the Bank of Montreal in 1817. [6]
Merged into the Bank of Nova Scotia. [173] United Empire Bank of Canada: 1906 1911 Founded as the Pacific Bank of Canada before renaming in 1906. Merged into the Union Bank of Canada. [174] Unity Bank of Canada: 1972 1977 Failed and merged into the Provincial Bank of Canada. [175] Western and Pacific Bank of Canada 1982 1988
Big Five is the name colloquially given to the five largest banks that dominate the banking industry of Canada: Bank of Montreal (BMO), Scotiabank, Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and Toronto-Dominion Bank (TD).
The Nedcor Group was renamed the Nedbank Group on 6 May 2005. In August 2009, Nedbank acquired the 49.9% of Imperial Bank South Africa that it did not own, so Imperial Bank South Africa is wholly owned by Nedbank. [7] In October 2014, Nedbank acquired a 20% stake in Ecobank, converting its $285 million claim in Ecobank into equity. [8] [9]
Thomson was elected a director of the Bank of Nova Scotia on 12 April 2016. On 26 September 2022, the bank announced that Thomson would succeed Brian J. Porter as president. Thomson left Finning on 15 November, and began as president of the bank on 1 December. On 1 February 2023, Thomson assumed the additional role of chief executive officer. [5]
Most Canadians who use online banking can send funds. These include personal deposit account holders with the big five banks (Bank of Montreal, Scotiabank, CIBC, RBC, and TD), Desjardins, Tangerine, National Bank, Simplii, PC Financial, EQ Bank and many credit unions and other institutions, [2] as well as some small-business account holders. [3]
He was a founding director and first president of the Bank of Nova Scotia, now known as Scotiabank. [1] The bank was incorporated by the Nova Scotia Legislative Assembly on Mar 30, 1831 in Halifax, Nova Scotia with William Lawson (banker) (1772–1848) serving as the first president.