Scotiabank Timeline

1989 - Scotia Plaza, Toronto ā€“ Scotiabank holds the ribbon cutting ceremony for the opening of Scotia Plaza on May 30. The new office tower stands 68 storeys tall and is clad in a distinctive red granite.

It is connected to the previous Executive Office building at 44 King by an 11-storey atrium.

1989 - Anguilla - Scotiabank enters Anguilla on August 1 with the opening of a branch in The Valley.

In 2019, as part of a strategic refocusing, Scotiabank completes the sale of its operations in Anguilla.

1990 - Scotiability Fund ā€“ Scotiabank seeks to better facilitate inclusion by introducing the Scotiability Fund.

The fund is intended to help defray the costs incurred by teams to purchase accommodations to support staff with disabilities.

1990 - Banque Scotia - Scotiabank adopts "Banque Scotia" for its marketing name in Quebec. It replaces BNE, short for La Banque de Nouvelle-Ecosse which remains a legal name of the Bank in Quebec.

The Bank feels the new name better conveys the nature of the business and will be more readily identified with the Bank's stylized "S" logo.

1990 - Interac Direct Payment - Scotiabank participates in the pilot of a new payment system, EFT/POS or Electronic Funds Transfer at Point of Sale. This new system allows funds to be paid directly from a customer's account.

Scotiabank also introduces Scotia 2020, a terminal capable of processing these new debit transactions.

1990 - Chile - Scotiabank enters Chile with the acquisition of a 24% stake in Banco Sud Americano.

Banco Sud Americano is the sixth largest bank in Chile.

1991 - ABMs in the Caribbean - Scotiabank introduces ABMs to its Caribbean operations. 

Branches in Trinidad and Tobago, Bahamas, Barbados and the Cayman Islands are the first to receive the machines.

1991 - Drive-thru ABMs - Scotiabank installs its first drive-thru bank machine. 

The first machine is located at the Rutland branch in Kelowna, British Columbia. Others, like this one in Bracebridge, soon follow.

1992 - Policy on the Environment - Scotiabank adopts an official environmental policy.

The policy provides a framework for future Bank initiatives and promotes an environmentally responsible workplace.

1992 - Scotiatrust ā€“ A change in Canadian legislation permitting banks to own trust companies paves the way for the creation of The Bank of Nova Scotia Trust Company, better known as Scotiatrust. 

The first location opens in Toronto's Scotia Plaza in June 1993.

1992 - Grupo Financiero Inverlat, S.A. - Scotiabank acquires a 5% interest in Mexico's fourth largest financial group. Scotiabank increases its investment multiple times.

It acquires a controlling interest in 2000 and increases ownership to 97% in 2004. In 2005 the Mexican subsidiary becomes known as Grupo Scotiabank.

1992 - Value Visa - Scotiabank introduces the Value Visa credit card. Its main feature is its low interest rate, the lowest of any bank, trust company or retail credit card available in Canada.

It is designed for consumers interested in reducing their interest-related expenses.


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