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Bank of Nova Scotia (BNS.TO)

BNS.TO on Toronto Stock Exchange

9 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Bank of Nova Scotia to cut jobs, cites technology shift - Reuters
Friday, 23 Oct 2015 02:21pm EDT 

Bank of Nova Scotia:Bank of Nova Scotia is cutting an undisclosed number of jobs as part of a broader cost-reduction strategy as it moves to keep pace with technology changes in the financial services industry, Canada's No. 3 lender said - RTRS.Scotiabank, which had more than 87,000 employees at the end of July, said it would close offices in Calgary, Ottawa, Vancouver, Winnipeg and Halifax over the next two years, and it told employees about the layoffs on Thursday - RTRS.CBC News, citing one unidentified employee, spoke of 200 jobs being cut in one region. The lender said the figure was incorrect, but declined to say how many jobs would be eliminated - RTRS.The cuts include back-office and support jobs in its shared services group, adjudication centers and mortgage operations. Scotiabank also plans to consolidate operations through two new technology hubs in the Greater Toronto Area - RTRS.  Full Article

Bank of Nova Scotia to acquire JPMorgan Chase Credit Card Portfolio in Canada
Thursday, 15 Oct 2015 10:43am EDT 

Bank of Nova Scotia and JPMorgan Chase Bank N.A:Says have reached an agreement under which Scotiabank will acquire a MasterCard and private label credit card portfolio and the related credit card operations from JPMorgan Chase.Terms of the transaction are not financially material to Scotiabank or JPMorgan Chase.Scotiabank's common equity tier one capital ratio will be impacted by less than 10 basis points, primarily from the acquired assets.Acquisition will be accretive to Scotiabank's earnings in year one.Credit card portfolio includes approximately $1.7 Billion in receivables and 2 million well-performing active customer accounts.  Full Article

Bank of Nova Scotia declares dividend
Friday, 28 Aug 2015 06:30am EDT 

Bank of Nova Scotia:Approves a dividend of 70 cents per share, an increase of two cents per share.Says this quarterly dividend is payable to shareholders of record as of Oct. 6 on Oct. 28.  Full Article

Bank of Nova Scotia to acquire Citigroup's Retail and Commercial Banking Operations in Panama and Costa Rica
Tuesday, 14 Jul 2015 08:50am EDT 

Bank of Nova Scotia:Says Scotiabank to acquire citigroup's retail and commercial banking operations in Panama and costa rica.Says scotiabank's common equity tier one capital ratio will be impacted by about 15 basis points.Until deal receives regulatory approvals, all operations, branches, products, benefits programs to continue to operate as usual.Deal include assumption of Citigroup employees from retail,commercial banking in panama,costa rica by Scotiabank panama,costa rica.Transaction to provide lift to the bank's market share in credit cards to about 18 pct in Panama and 15 pct in costa rica.Acquisition will nearly triple scotiabank's customer base in Panama and costa rica from about 137,000 to 387,000.  Full Article

Bank of Nova Scotia approves dividend
Tuesday, 3 Mar 2015 06:00am EST 

Bank of Nova Scotia:Approves dividend of 68 cents per share.Says quarterly dividend applies to shareholders of record as of April 7.Payable on April 28.  Full Article

Banks including Bank of Nova Scotia face scrutiny over pricing of precious metals - WSJ
Tuesday, 24 Feb 2015 04:15am EST 

Bank of Nova Scotia:The U.S. Department of Justice (DoJ) and the Commodity Futures Trading Commission are investigating at least 10 banks for possible rigging of precious-metals markets - The Wall Street Journal.DoJ prosecutors are scrutinizing the price-setting process for gold, silver, platinum and palladium in London, while the CFTC has opened a civil investigation.The banks are HSBC Holdings Plc, Bank of Nova Scotia, Barclays Plc, Credit Suisse Group AG , Deutsche Bank AG, Goldman Sachs Group Inc, JPMorgan Chase & Co, Societe Generale, Standard Bank Group Ltd and UBS Group AG.  Full Article

Industrial Alliance to acquire HollisWealth from ScotiaBank

Industrial Alliance Insurance and Financial Services Inc said it would acquire financial network HollisWealth from ScotiaBank .