1982 – India
Scotiabank enters India with the opening of a Representative Office in Bombay (now Mumbai) in September.
Scotiabank Timeline
1983 - Cashstop ABMs - In October Scotiabank begins installing the next generation of automated banking machines.
Cashstop ABMs go beyond dispensing cash, allowing customers to carry out a greater range of personal banking transactions.
1983 - Kenya - Scotiabank enters Kenya with the opening of the Regional Representative Office for Africa on May 2. It is located in Nairobi.
With the opening of this and the Madrid office (on the same day), Scotiabank is represented in 52 countries. Scotiabank closes the office in 1986.
1983 - Spain - Scotiabank enters Spain with the opening of a Representative Office in Madrid on May 2.
With the opening of this and the Kenya office (on the same day), Scotiabank is represented in 52 countries. Scotiabank closes the office in 1988.
1984 - POS Credit Authorizations - Scotiabank pilots new point of sale terminals. These terminals give Scotiabank Visa merchants quick, reliable authorizations on Visa accounts, eliminating the need to call for authorization.
In August 1986 Scotiabank launches the program across Canada as CONFIRMEX.
1986 - ABM Networks – Scotiabank expands ABM options for its customers through partnerships. First it partners with National Bank to share ABM access, then expands with participation in Interac.
In November Scotiabank is the first Canadian financial institution to sign on to the VISA Global ABM program.
1986 - Employee Share Ownership Plan
Starting on July 21 eligible Scotiabank employees can buy Scotiabank shares through payroll deduction, assisted by contributions from the Bank.
1986 - Pre-approved Mortgages - To help relieve some of the anxiety involved in looking for a new home, Scotiabank introduces a pre-arranged mortgage service called Scotia Approved Mortgage.
Customers can pre-qualify for a maximum mortgage amount and receive the Bank's commitment to hold the interest rate for 60 days.
1987 - Mutual Funds - Scotiabank introduces mutual funds. The first two offerings are the Scotia Stock & Bond Fund and the Scotia Income Fund.
Each of the two funds is professionally managed by independent portfolio managers.
1987 - Scotiabank Commodity Price Index - Scotiabank introduces the first commodity price index designed specifically for Canada.
It is created to better reflect commodity price developments of specific interest to Canadians and Canadian resource producers.
1988 - McLeod Young Weir - Scotiabank acquires investment firm McLeod Young Weir. Founded in 1921, it has offices in New York, London, Zurich and Tokyo as well as fifty-three in Canada.
This acquisition represents a new line of business for the Bank, possible due to changes in Canadian banking regulations. It is rebranded ScotiaMcLeod.
1988 - Dominica - Scotiabank enters Dominica on September 19 with the opening of a branch in Roseau.
In 2019, as part of a strategic refocusing, Scotiabank completes the sale of its operations in Dominica.