The Bank of Nova Scotia Berhad (Scotiabank), a wholly owned subsidiary of The Bank of Nova Scotia, has 38 years history in Malaysia. It commenced operations in Malaysia in 1973 and was locally incorporated as The Bank of Nova Scotia Berhad in 1994. The Bank has an asset size of RM3.9 billion and posted a pretax profit of RM90.7 million for the financial year 2010.