Scotiabank raises Latin America profile

Bank of Nova Scotia moved to raise its already sizeable Latin American footprint on Tuesday, purchasing Mexican consumer lender Credito Familiar as well as a majority stake in Colombian pension fund Colfondos AFP.

Scotiabank, Canada’s No. 3 bank, said it would acquire 51 percent of Colfondos, Colombia’s fourth-largest pension fund company, as part of a push to expand its wealth management business.

Read more at Reuters and The Globe and Mail.

 

Toronto-based Scotiabank is Canada’s most international bank, with operations in around 50 countries, most of which are in Latin America and Asia.

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