Scotiabank Timeline

The 1950s

1958 - Gold Certificates - The Bank introduces this new product, a world first. The certificates are fully transferable and act as warehouse receipts for gold stored with the Bank.

The certificates allow overseas owners of gold to sell it via the certificate, avoiding the need to physically ship the gold.

1958 - Scotia Plan Loans – The Bank introduces Scotia Plan Loans, an instalment lending program. At the time, bank lending to customers is virtually unknown in Canada.

The Bank of Nova Scotia becomes the first Canadian bank to promote lending to the average consumer.

1958 - Your Partner in Progress

The Bank of Nova Scotia replaces Your Partner in Helping Canada Grow with a more succinct slogan, Your Partner in Progress.

1959 - Scotia Plan Cheque-Credit - The Bank introduces another consumer credit product, Scotia Plan Cheque-Credit, designed for customers wishing to borrow smaller amounts of money

It is the first revolving credit plan to be introduced by any Canadian bank.