In return for the transfer of operations, Scotiabank will gain around a 20% stake in Colombia lender Davivienda.

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THE Bank of Nova Scotia (Scotiabank) has announced plans to exit its operations in Colombia, Costa Rica, and Panama, transferring these businesses to Banco Davivienda S.A. As part of the agreement, Scotiabank will acquire a 20 per cent stake in the Colombian bank.

Bank of Nova Scotia agreed to transfer its operations in Colombia, Costa Rica and Panama to Banco Davivienda SA of Colombia, saying it will take an after-tax charge of C$1.4 billion ($980 million) as a result.

The Bank of Nova Scotia has signed an agreement to sell its operations in Colombia, Costa Rica and Panama as it looks to boost efficiencies and reorganize its Latin American businesses.

Scotiabank will hand over its operations in Colombia, Costa Rica and Panama to Colombian bank Davivienda, both parties said on Monday, in exchange giving Scotiabank a 20% stake in Davivienda.

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Scotiabank becomes a shareholder, with approximately 20% of all Davivienda operations and participation in its board of directors. This was reported by several Colombian and Costa Rican media. This transaction not only represents one of the largest recent financial sector agreements,

All IQ8P Microinverters activated in Colombia, Panama, and Costa Rica come with a 20-year limited warranty. "Enphase’s IQ8 Microinverters are transforming solar energy in Colombia," said Pedro ...

The Canadian bank says it will take an after-tax impairment loss of approximately $1.4 billion in the first quarter of 2025 in connection with the deal.

(RTTNews) - The Bank of Nova Scotia (BNS), Monday announced the decision to transfer its banking operations in Colombia, Costa Rica and Panama to Latin America-based Davivienda. In exchange for ...

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