Bank of Nova Scotia

Bank of Nova Scotia (French: Banque de la Nouvelle-Ecosse), also known as Scotiabank, is one of Canada’s largest banks and, as at July 31, 2026, the third largest by assets. It was no longer third by deposits or by market capitalization at that date: Bank of Montreal was larger on both measures, with deposits of C$1,017.8 billion against C$1,006.0 billion at Scotiabank and a market capitalization of C$175.3 billion against C$149.9 billion, and Canadian Imperial Bank of Commerce was also more highly valued, at C$150.8 billion. It offers a full range of products and services including personal and commercial banking, corporate banking, investment banking and wealth management. Scotiabank is Canada's most international bank with 81,734 full-time-equivalent employees, 1,984 branches and offices and 7,478 automated banking machines at July 31, 2026, operating in Canada and, through its International Banking arm, in more than 12 other countries including Mexico, Chile, Peru, Brazil, Uruguay and markets across the Caribbean. It is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers to use their cards at another bank with no International ATM access fees. Other participating banks are Barclays, Bank of America, BNP Paribas, Deutsche Bank, and Westpac. In 2012, Scotiabank acquired ING Bank of Canada (known as ING Direct Canada), the country’s largest online bank, for $3.1 billion. In July 2015, it agreed to buy Citigroup's retail and commercial banking operations in Panama and Costa Rica. Citibank's operations in Costa Rica and Panama include 27 branches with more than 250,000 customers. Scotiabank will increase the market share of credit cards to 18% in Panama and 15% in Costa Rica. As at July 31, 2026, The Bank of Nova Scotia had total assets of C$1,548 billion, deposits of C$1,006 billion and net loans and acceptances of C$771 billion. The company was established in 1832 and is headquartered in Toronto, Canada.

Scotiabank Business Lines:

Canadian Banking provides banking and investing services to over 11 million individual, small business, commercial and wealth management customers through a network of 871 branches and 3,493 automated banking machines nationwide, as at July 31, 2026. It also offers alternative self-directed banking services to approximately 2 million Tangerine Bank customers. Scotiabank is the second largest mortgage lender in the nation after Royal Bank of Canada.

Global Banking and Markets is the wholesale banking arm of the Scotiabank Group. It offers products and services to corporate, government and institutional investor clients worldwide.

International Banking includes Scotiabank's retail and commercial banking operations in more than 12 countries, among them Mexico, Chile, Peru, Brazil, Uruguay and various markets in the Caribbean, as at July 31, 2026. It provides financial advice and solutions to over 8 million retail, commercial and Global Banking and Markets clients. The segment was previously described as covering more than 50 countries.

Global Wealth Management, the new business line, provides services to affluent and high net-worth clients.

Credit ratings: As at July 31, 2026, the long-term non-bail-inable senior unsecured debt of The Bank of Nova Scotia was rated Aa2 by Moody's Investors Service, A+ by Standard & Poor's, AA+ by Fitch Ratings and AA by Morningstar DBRS; its bail-inable senior debt, which is subject to conversion under the bank recapitalization regime, was rated A2, A-, AA- and AA (low) respectively. The table below records the ratings as they stood in March 2017.

Scotiabank International locations

Headquarters address:
44 King St. West
Toronto, Ontario M5H 1H1, Canada
Phone number: +1-416-866-6161
Fax: +1-416-866-3750
Website: www.scotiabank.com