Canada’s third biggest lender told its nearly 100,000 employees of its decision, which applies to both domestic and international travel effective immediately, the report said, citing people familiar with the memo.
Any exceptions require approval from an executive vice president, the report added.
Late on Thursday, Wall Street lender JPMorgan Chase & Co (JPM.N) issued global restrictions on non-essential travel to protect its employees and business from the coronavirus epidemic.
Scotiabank did not immediately respond to a Reuters request for comment.
Reporting by C Nivedita in Bengaluru; Editing by Shailesh Kuber