Scotiabank and BMO are both part of the Big Five Banks in Canada. Both the Bank of Nova Scotia and Bank of Montreal occupy the third and fourth positions of the largest banks based on market capitalization and deposits.
Scotiabank and BMO have their start and origins in Canada but have distinctive features that this article will discuss. Before getting into the differences and features, here is a brief introduction to each of the banks.
Scotiabank or The Bank of Nova Scotia is the third largest bank in Canada with its foundation in Halifax, Nova Scotia. It is a multinational bank that provides banking services, financial advice, and other banking products to customers across Canada as well as some parts of Asia and Europe. Thanks to its significant presence in Latin America and the Caribbean, people dub it Canada’s most international bank. (more…)