Scotiabank Press Release Summaries -

Scotiabank Press Release Summaries


This page contains Scotiabank Press Release Summaries.  Click on the Press Release Date to view the entire news release.



Redemption of Non-Cumulative Preferred Share Series 34

Press Release Date:

March 4, 2021

Excerpt from Press release:

TORONTOMarch 4, 2021 /CNW/ – Scotiabank (TSX: BNS) (NYSE: BNS) today announced its intention to redeem all outstanding Non-cumulative 5-Year Rate Reset Preferred Shares Series 34 (Non-Viability Contingent Capital (NVCC)) (“Series 34 Shares”) of Scotiabank on April 26, 2021 at a price equal to $25.00 per share together with declared and unpaid dividends to the Redemption Date (the “Redemption Price”). Formal notice will be issued to the shareholders in accordance with the share conditions.


Scotiabank Redeems Preferred Shares Series 32 and Series 33

Press Release Date: Jan 26 2021
Excerpt from Press release:

Non-Cumulative Preferred Shares

  • Series 32, Dividend No. 42 of $0.009891 per share;
  • Series 33, Dividend No. 21 of $0.006976 per share;

As previously announced on December 7, 2020, Preferred Shares Series 32 and 33 will be redeemed by the Bank on February 2, 2021.

Holders may elect to receive their dividends in common shares of the Bank in lieu of cash dividends, in accordance with the Bank’s Shareholder Dividend and Share Purchase Plan (the “Plan”). As previously announced, until such time as the Bank elects otherwise, the Bank has discontinued the issuance of common shares from treasury under the Plan. Purchases of common shares under the Plan will be made by Computershare Trust Company of Canada, as agent under the Plan, in the secondary market at the Average Market Price (as defined in the Plan). All brokerage commissions or service charges in connection with such purchases will be paid by the Bank.


Scotiabank 1st to Offer Real-Time Payments in Canada through Interac e-Transfer® for Business

Press Release Date:
December 9, 2020
Excerpt from Press release:

Scotiabank offers all business customers with the new INTERAC e-Transfer for Business service the ability to send & receive real-time payments using a recipient’s account number or email address

TORONTO, Dec. 9, 2020 /CNW/ – Scotiabank is the 1st financial institution in Canada to offer real-time payments for all business banking customers using flexible routing options like an account number or email address, using Interac e-Transfer® for Business. This, along with data-rich remittance information will make it easier for businesses of all sizes to pay one another and reconcile transactions in real-time.

“We are proud to be the first bank in Canada to introduce faster payments for our business banking customers,” said Chemi Nanglu, Head, Product & Operations, Global Business Payments at Scotiabank. “With new capabilities, like enhanced data to ease reconciliation and account number routing to make sending payments easier, we are continuing to enable value added services as we upgrade our payment capabilities.”

The ability to send and receive data-rich payments in real time optimizes cash flow so businesses can put their money to work right away. Transactions are processed in real-time, with confirmation of payment delivered within 5 seconds and funds available to the recipient immediately. This makes it possible for businesses to take advantage of ‘just-in-time’ payments, allowing them to maximize working capital. Real-time payments also minimize the likelihood of late payments or allows a user to take advantage of early payment discounts from suppliers without needing to account for time delays or manual processing associated with legacy payment products like Electronic Fund Transfers (EFTs) or cheques.

Interac e-Transfer for Business is poised to do for business payments what Interac e-Transfer did for peer to peer transactions,” said Peter Maoloni, Vice President, Product and Services, Interac Corp. “With enhanced capabilities like real-time, high-value and data-rich payments, businesses can streamline accounting processes to maximize the efficiency in utilizing working capital for their business’ financial management needs.”

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