Smart branding by BNS

Article Excerpt

BANK OF NOVA SCOTIA $66.60 (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $80.1 billion; TSINetwork Rating: Above Average; Dividend yield: 3.8%, www.scotiabank.com) has formally changed the name of its ING Direct subsidiary to Tangerine (www.tangerine.ca). The bank bought ING Direct from its Netherlands-based parent, ING Group, in November 2012. This business provides no-fee banking services to 1.9 million clients, mainly over the Internet. The new name will let Bank of Nova Scotia keep using the orange colour associated with the ING Direct brand. Tangerine will continue to operate separately from the bank’s retail banking operations. However, Bank of Nova Scotia will let Tangerine customers use its ATMs without paying fees. Bank of Nova Scotia is our #1 safety-conscious buy for 2014. 2014…