Source: The Canadian Press

Bank of Nova Scotia (TSX:BNS) has purchased the naming rights for a new convention centre in Niagara Falls, Ont.

The bank says the Scotiabank Convention Centre, scheduled to open in April, will serve as home to various events and corporate functions throughout the year.

The centre will also house a 400 square foot Scotiabank branch, it said.

Financial details and the length of the agreement were not disclosed.

Canadian banks and financial institutions have aggressively pursued the naming rights to community buildings, stadiums and other prominent public locations in recent years.

Scotiabank paid $20 million in 2006 to put its name on the home of the Ottawa Senators for 15 years. The Saddledome in Calgary, home of the Flames, has also recently been rebranded with the Scotiabank name.

Sun Life Financial (TSX:SLF) paid at least US$20 million for the naming rights to the stadium of the NFL’s Miami Dolphins earlier this year.