Scotiabank obtains 20% stake in Colombia's Davivienda

Scotiabank hands over Colombia, Costa Rica, and Panama operations to Davivienda
In return for the transfer of operations, Scotiabank will gain around a 20% stake in Colombia lender Davivienda.
Scotiabank transfers some Latin American assets to Colombia's Davivienda for 20% stake
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. It marks Scotiabank's latest move to refocus on its core markets.
Scotiabank’s Strategic Shift: Selling Operations in Costa Rica,…
Scotiabank’s decision to offload its operations in Costa Rica, Colombia, and Panama comes as part of a broader strategy to focus on markets with higher stability and profitability. The bank’s international banking head, Francisco Aristeguieta, stated:
Scotiabank Cedes Operations in Deal with Davivienda, To Take $1.7B In Losses
(TSX: BNS), commonly known as Scotiabank, announced an agreement to transfer its banking operations in Colombia, Costa Rica, and Panama to Davivienda, a prominent Latin
Scotiabank obtains 20% stake in Colombia's Davivienda with operations handover
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. The move is part of Scotia's push to slim down operations in non-core markets,
Scotiabank Transfers Latin American Operations to Davivienda for Strategic Stake
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Davivienda Will Take Over The Reins Of Scotiabank In Three Countries: Colombia, Costa Rica And Panama
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,
Scotiabank to transfer some Latam banking operations to Davivienda
Scotiabank agrees to transfer banking operations in its Colombia, Costa Rica, and Panama businesses to Davivienda for ~20% stake in Davivienda, the company said Monday. It expects an after-tax impairment loss of ~C$1.
Scotiabank selling operations in Colombia, Costa Rica and Panama to Davivienda
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.
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