All about Scotia Bank
Scotia Bank is Canadian based international financial services company formed in 1832. It has its branches and offices in and around 50 countries with about 51,000 employees. It provides wide range of retail, commercial, corporate, investment and international banking services and offers mortgage of both fixed and variable rate through its Scotia Bank Mortgage Corporation to millions of customers across the globe.
The core businesses include:
1. Domestic Banking: It is the commercial banking division, offering savings and loan services. The brokerage unit of this division is called the wealth management group.
2. Scotia Capital Inc: Manages the relationship with large corporate, institutional and government clients. This division is called investment banking division.
3. International Banking: This merchant banking division provides financial services across the world.
4. e-Commerce or e-Banking: enables to perform the transactions online.
Scotia bank help to build the communities and involve them in business by providing financial support to them. It provides unparalleled services to the customers with care and dedication. Some of it's services are:
- Online transactions include account balance and transaction reporting, fund transfers, bill payments, stop payments and federal and provincial tax filling. Hence every thing can be done online with its continuous service.
- Customer can receive all his business account daily transaction details electronically through Electronic daily statement.
- Electronic cheque services, cash concentration services, balance consolidation, and many more services are available.
- ensures that the customers personal information is confidential and secure.
- It's privacy agreement makes sure that the customer information is safe.
- resolves the complaints given by the customer quickly and efficiently.
- In personal banking it enable deposits for checking and savings account and
other currency accounts. - In business banking and trade it lends loans to customers, issues letters of
credit and guarantee. - It's industrial solutions include agriculture, automotive dealerships, condo and property management where in day-to-day management of condominiums and large-scale properties are required, franchising where in banking options are required for buying franchise or refinancing it and law firms where amount have to be transferred to the trusted accounts.
- renders foreign exchange and other safety deposits.
- It is committed to a number of voluntary codes of conduct and
public commitments which are modeled to protect consumer interests.
Scotia Bank's statement on coercive tied selling explains sales practices which are incorporated in the banking industry. It always maintains good relationship with investors by informing them about its group strategy, financial performance, executive presentations and other useful data from time to time. It makes the banking easy to the customers with its innumerable services.
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Bank of Nova Scotia is third largest bank in Canada which was founded in the year 1832 in Halifax, Nova Scotia. This bank also offers asset management including mutual funds. Scotia capital division offers services such as underwriting, acquisitions and mergers and corporate debt advising.