who owns tangerine bank

Tangerine Bank is wholly owned by The Bank of Nova Scotia, commonly known as Scotiabank. It operates as an independently operated subsidiary of Scotiabank, maintaining a separate legal identity and institution number. Tangerine was originally founded in 1997 as ING Direct Canada and was acquired by Scotiabank in 2012, after which it was rebranded as Tangerine starting in 2014. Despite being owned by Scotiabank, Tangerine functions independently from the parent bank, offering digital banking services to over two million customers in Canada.