The Bank of Nova Scotia better known today to most as (Scotiabank) opened for business in 1832 in Halifax, Nova Scotia to support the thriving trans Atlantic trade between Great Britain, North America and the West Indies. Other agents were quickly assigned to New York, Boston and London, providing an early indication of the Bank’s global aspirations. Scotiabank paid its first dividend to shareholders only a year later and the first in an unbroken history of dividend payments that continues to this day.

The Bank of Nova Scotia was the first public bank in Halifax, Nova Scotia, and also the first in British North America with a charter that provided double liability of shareholders ( the amount fo the stock held, plus equally as much again). The latter became a continuing feature of Canadian banking legislation until 1934, when a central bank was established and the note-issuing privilege of the chartered banks was gradually rescinded.
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