04:47:38 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,198,208,698
Close 2017-09-08 C$ 76.13
Market Cap C$ 91,219,628,179
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Globe says Scotiabank, RBC assess hurricane damage

2017-09-11 06:53 ET - In the News

Also In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Saturday edition that Canadian banks with operations in the Caribbean are assessing the damage caused by hurricane Irma and bracing for more. The Globe's Niall McGee and Christina Pellegrini write that Bank of Nova Scotia is the biggest Canadian player in the Caribbean, with 200 branches in 20 countries and a work force of more than 8,500 people. CIBC and Royal Bank of Canada also do business on some of the affected islands. All three banks were forced to close branches as a result of the most ferocious hurricane recorded to date in the region. Late Friday, Irma was tracking toward Florida after devastating parts of the northeast Caribbean, including Saint Martin, Barbuda and the British and U.S. Virgin Islands. Mandatory and voluntary evacuation orders have been put in place for the Florida Keys and parts of the state. Scotiabank closed 10 branches in affected areas and said some branches sustained physical damage. RBC has 68 branches in the Caribbean and communication lines have been badly damaged, the bank said, so its staff were still piecing together the extent of the damage. RBC branches in St. Martin and Saba sustained damage from Irma, and remain closed.

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