Bank of Nova Scotia (BNS)

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Scotiabank (TSX: BNS NYSE: BNS), formally known as The Bank of Nova Scotia is one of Canada's Big Five banks. It is the third largest bank in Canada by assets (behind the Royal Bank of Canada and TD Bank Financial Group), and the second largest by market capitalization (behind Royal Bank of Canada). It is Canada's most international bank, having branches in more countries than the other major Canadian banks.

[edit] Business Financials

BNS operates in three main business segments:

[edit] Domestic Banking (39.8% of Net Income)

[edit] International Banking (31.6% of Net Income)

[edit] Scotia Captial (28.6% of Net Income)

In 2007, BNS lead the Money Center Banks industry in return on equity (18.42%).

[edit] Trends and Forces

[edit] Competition

Financial Services

• Bank of Nova Scotia (BNS) -- Canada's third largest bank similarly offers commercial, retail, and investment banking products.^[1]
• SunTrust Banks (STI) -- STI is a Southeastern bank with 20% of outlets in retail centers.
• Wells Fargo (WFC) -- The first bank in the U.S., WFC offers financial products ranging from retail mortgages to small business loans to insurance products.^[2]
• Bank of America (BAC) -- BAC has about half of all the wealthy households in the U.S. as customers, and holds the leading share of the market for small business banking.^[3]
• Citigroup (C) -- The world's most diversified financial services firm, C competes with STI in retail and commercial segments.^[4]
• Royal Bank Of Canada (RY)
• Canadian Imperial Bank of Commerce (CM)

[edit] References

1. ↑ Scotiabank website
2. ↑ Wells Fargo website, "About Us"
3. ↑ Bank of America website, "About Bank of America"
4. ↑ Citigroup website, "About Us"
5. ↑ BNS 2007 Annual Report
6. ↑ STI 2007 10-k, Item 6: Selected Financial Data, page 14
7. ↑ WFC 2007 10-k, Item 6: Selected Financial Data, page 14
8. ↑ BAC 2007 10-k, Item 6: Selected Financial Data
9. ↑ Citigroup 2007 Annual Report