Scotiabank Peru SAA is a Peru-based commercial bank, active in the area of retail and wholesale banking. Its wholesale banking division combines business banking and capital markets banking. It provides global transactions, trading, investment, leasing, credit analyses, economic studies and treasury services. The Bank's business banking division serves small and mid-sized businesses, providing a range of financial services. The Bank also offers credit and debit cards under the MasterCard brand. As of the year 2008, the Bank has seven subsidiaries: Depositos SA, Scotia Sociedad Agente de Bolsa SA, Scotia Sociedad Titulizadora SA, Scotia Fondos Sociedad Administradora de Fondos SA, Servicios, Cobranzas e Inversiones SAC, Promocion de Proyectos Inmobiliarios y Comerciales SA and CrediScotia Financiera SA. The majority shareholder of Scotiabank Peru SAA is The Bank of Nova Scotia, which is based in Canada and which holds, directly and indirectly, a 97.62 % stake in the Company.