Addressing Scotiabank shareholders for the first time as the bank’s new president, Brian Porter discussed opportunities in each of the bank’s business lines.
In Canadian banking there will be a heightened focus on deposits and payments. “Deposits are the lifeblood and circulatory system of any bank,” he says. “Therefore, it is a key priority for us to ensure that our deposits are growing in lock-step with loans.”
ING DIRECT provides Scotiabank with considerable potential to leverage into international locations, he adds. Payments is another important focus for the bank and it is continuing to progress with mobile payment technology.
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In international banking, the bank is continuing to build its “diversified, customer-focused personal and commercial footprint, particularly in the higher-growth markets of Latin America and Asia.”
Since 2007, Scotiabank has added more than eight million customers outside Canada and doubled the number of branches.
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Porter adds Scotiabank is “achieving the right kind of success. All of our business lines are contributing in a very balanced way and we continue to have a wealth of opportunities in front of us.”