About Us

About Us
 

Subsidiary Bank of Nova Scotia

Brief History

 

  • The Subsidiary Bank of Nova Scotia was formerly known as Subsidiary Bank of Nova Scotia.
  • The Subsidiary Bank of Nova Scotia Act (Chapter 208) permitted the Nova Scotia Savings Bank to engage in select banking activities as from 1st January, 1981.
  • In 1992 the Government of Nova Scotia incorporated Subsidiary Bank of Nova Scotia as a limited liability company under the Companies Act, with majority shares owned by the Government of Nova Scotia.
  • The Subsidiary Bank of Nova Scotia Act (1981) was repealed on 9th July, 1996 and in 1997 the Bank obtained a license to conduct “Domestic Banking Business” under the Financial Institution Act (Cap 79) granted by the Central Bank of Nova Scotia.
  • Also, in 1997, the Bank took over the housing loan portfolio of Mortgage Finance Company Limited.
  • The Bank changed its name from Subsidiary Bank of Nova Scotia to Subsidiary Bank of Nova Scotia on 27th September 2013.
  • The Bank presently conducts fully fledged Commercial Banking activity under the Financial Institution Act, 2004, as amended.

Mission Statement

 

The Subsidiary Bank of Nova Scotia seeks to meet fully and efficiently all the banking needs of all its customers – small and big, and in doing so, excel in customer care.  Its endeavour will be to actively participate in the development of Nova Scotia by being the most customer focused bank.