Here's Why I Just Bought BNS Stock
I'm a dividend investor through and through, so buying a U.S. bank after living through the pain of the Great Recession is not something I'm about to do (far too many U.S. banks ended up cutting their dividends). But Canadian banks, which largely sailed through that volatile time without much impact to their dividends, are a completely different story.
On what appears to be the eve of another economic downturn, here are four reasons why I added Bank of Nova Scotia (NYSE: BNS) to my portfolio.
Canadian banking regulation is far more stringent than regulation in the United States. That basically insulated the largest banks from competition. That means that big names like Bank of Nova Scotia, or Scotiabank as most people call it, are unlikely to be unseated by upstarts in their home markets. Mergers among the biggest players are also not likely to be approved, so Scotiabank has a very solid foundation in Canada that appears well protected.
Source Fool.com
