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Scotiabank and Davivienda receive regulatory approvals for transfer of Scotiabank's banking operations in Colombia, Costa Rica and Panama
Scotiabank and Davivienda receive regulatory approvals for transfer of Scotiabank's banking opera...
About this update from Bank Of Nova Scotia
[{"type":"text","content":"\n\n\nScotiabank and Davivienda receive regulatory approvals for transfer of Scotiabank's banking operations in Colombia, Costa Rica and Panama\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, Nov. 24, 2025 /CNW/ - Scotiabank and Davivienda announced today that all required regulatory approvals have been received for completion of the transfer of Scotiabank's banking operations in Colombia, Costa Rica, and Panama to Davivienda. The combined operations of both institutions will operate under a new holding company, Davivienda Group.\n\n\n\n\n\n\n\nAs previously announced on January 6, 2025, Scotiabank entered into an agreement with Davivienda providing for the transfer of the above referenced banking operations in exchange for an approximate 20% ownership stake in Davivienda Group.\nScotiabank and Davivienda will work together to enable a smooth transition for clients and employees in these countries.\nAbout ScotiabankScotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: \"for every future,\" we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at July 31, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.\nForward-looking statementsFrom time to time, our public communications include oral or written forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission (SEC), or in other communications. In addition, representatives of the Bank...