FOREIGN BANK IN INDIA – SCOTIA BANK
FOREIGN BANK OF INDIA – SCOTIA BANK
The Bank of Nova Scotia commonly known as Scotia Bank is the third largest bank in Canada by deposits and market capitalization. The Scotia bank was founded in 1832 in Halifax, Nova Scotia, but moved its executive offices to Toronto, Ontario in March 1900. Scotia bank has billed itself as ‘Canada’s International Bank’ due to its acquisitions primarily in Latin America and the Caribbean, but also in Europe and India as well.
The Scotia Bank company ranks at number 92 on the Forbes Global 2000 listing and is currently under the leadership of Richard E. Waugh who serves both in the capacity of President and CEO. Scotiabank has been active in the third quarter of 2010 purchasing two large Latin American units in Chile and Brazil from European banks in the United Kingdom and Germany, respectively.
Scotia bank is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their ATM card or check card at certain other banks within the Global ATM Alliance without fees when traveling internationally. Other participating banks are Barclays (UK), Bank of America (US), BNP Paribas (France and Ukraine), Deutsche Bank (Germany), and Westpac (Australia and New Zealand).