SCOTIABANK Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

SCOTIABANK Case Solution

Introduction

The bank of Nova Scotia is operating as Scotiabank, it is a Canadian international bank and a leading financial services provider in North America, Latin America, and different parts of Asia. It is the third largest bank in Canada because of its deposit and market capitalization. The bank is serving in more the 55 counties around the world with wide range of the products and services, such as personal and commercial banking, wealth management, corporate, strong internet and mobile banking, and investment banking. The bank is enjoying continuous success by risk management, cost control, diversification of the product line, customer satisfaction, and great employees. The goal of the bank is to be the most successful Canadian international financial group.

Overview of the organization and its objectives

The Scotiabank was established in Halifax, Nova Scotia in 1832, with authorized capital of£100,000. Scotiabank became the first chartered bank in the Nova Scotia by issuing shares in the market, the shares of the bank are traded on the Toronto and New York Stock Exchange. It held its first share holder’s meeting at the Merchants Exchange House on May 10, 1832.

In the 20^th century, the bank of Nova Scotia had as trong base in the Maritimes as well as at start of the national and international network. In 1882, the bank began to get the attention of the market beyond the Maritime.The bank quickly shifted its operation in to the United States of America and opened many agencies in order to expand the business. In 1889, the bank expanded its business by opening of branch in Kingston, in order to facilitate the trading of sugar, rum, and fish.

This bank was the first Canadianbank to open a branch outside of United States and United Kingdom. The bank expand its business to more than 25 countries and became the largest bank in region and a continent-wide enterprise.

In 1930, the manager of the bank realized that the bank is still too small for becoming one of Canada’s fastest growing financial institution. So on August, 1931, the bank of Nova Scotia opened one of the most authentically Canadian buildings at the corner of Hollis.

After the Second World War, the economy of the world was on the boom and there were more new growth opportunities for the Scotiabank.The bank did many innovations during this period, such as Scotia started to give plan loans to its customers, public lending of gold, and appointment of first female branch manager in the Canadian history. Along with that in 1960 and 1970, the bank began to expand its financial institution into Asia. During this time, the financial service sector was not so developed in the Asian countries, the bank decided to earn more profit by providing the financial product and service in Asian countries. After the 1980 and 1990s, the bank further expanded its business by diversifying its Canadian operation through many acquisitions.Moreover, the bank continued its expansion by investing in South America and became one of the world’s first truly international banks.

Today, the bank is Canada’s international bank and is also known as Canada’s gold bank because of establishment in a coffee house in Halifax, Nova Scotia and lends gold in the public. The bank is continuously growing its business and expanding its operation worldwide, the earning per share of the bank is continuously increasing,which shows that the bank is continuously achieving success.

Overall business objectives:

· Be more focused on the customers

The aim of the bank is to provide excellent product and services to its customers. So the customers can become more attracted to it.This will enhance the profitability of the bank.

· Reduce structural cost

The aim of the bank is to become more efficient by decreasing the cost. The bank will able to deliver a better customer experience and create good revenue for shareholder over the longer period of time.......................

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