Scotia Bank – Best Choice Among Canadian Banks
When considering deposits and market capitalization, Scotia bank is the third largest bank in Canada. It is also known as the bank of Nova Scotia. They have branches in more than 55 countries around the world.
There are four divisions for the Scotia bank – Canadian Banking, Scotia capital Inc., International Banking and e-commerce/e-banking at Scotia bank. The commercial banking division which offers savings and loan services are included in the Canadian banking division. Telephone, wireless and internet banking are offered by this bank.
Large corporations and institutions seek help from the investment banking sector coming under the Scotia Capital Inc. Their customers get assistance in international trade from the merchant banking division coming under the International Banking section. They are the leading financial service provider in the Caribbean countries. Apart from this, they have a broad network in the Asian countries. Wire transfers and payments of Scotia bank come under the e-commerce/e-banking division.
ScotiaLife Financial is the insurance product of Scotia bank. This bank has membership in Canadian Bankers Association, Interac, VISA International, MasterCard in the Caribbean markets, Global ATM Alliance etc.
The key factor that provides the growth and success of Scotia bank goes alike. Customers are provided with expert advice and service by a committed team in this bank. A strong capital base and excellent risk management skills are the main strength and priority of this bank. This bank clearly focuses on the strategy of diversification of business, products and location.
Retail banking and small business banking sectors of Scotia bank offer mortgages, loans, credit cards, investments etc to people and small organizations. Medium to large scale businesses are provided with business banking, leasing, lending and cash management by the commercial banking sector in the Scotia bank. The way the bank interacts with their stakeholders and customers are defined as corporate social responsibility and through this they meet the social, economic and ethical responsibilities.