Scotiabank says it will close eight branches across rural Newfoundland

By The Canadian Press | October 24, 2023 | Last updated on October 24, 2023
1 min read

Scotiabank says it is closing eight branches across rural Newfoundland.

A spokesperson for the Canadian banking giant confirmed in a series of emails that branches in Grand Bank, Twillingate, Lewisporte, Bonavista, Burgeo, Flowers Cove, Deer Lake and Whitbourne will close.

Daniela Da Silva did not say when the branches will close, nor how many employees will be affected by the closures.

Da Silva says customers in affected communities requiring in-person banking services will have to go to other branches.

Scotiabank also closed its branch on Newfoundland’s Fogo Island last year.

Bonavista Mayor John Norman said in a Facebook post Monday that he was told his town’s Scotiabank would be shut down in the fall of 2024, adding that he was assembling a committee to fight the decision.

“The business community, low-income groups, seniors and others cannot do all banking online. Scotiabank kicked its customers with this, and if they choose not to serve us, we will make other arrangements with another financial institution,” Norman wrote.

Da Silva said despite the closures, Scotiabank “will continue to have a strong presence in Atlantic Canada, including Newfoundland and Labrador.”

Last week, Scotiabank said it was cutting about 3% of its global workforce, becoming the latest Canadian bank to trim staff amid continued economic uncertainty.

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