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Bank Of Nova Scotia To Increase Stake In Scotiabank Chile

May 03, 2021 — 08:54 am EDT

Written by RTTNews.com for RTTNews->

(RTTNews) - Bank of Nova Scotia said it has agreed to increase ownership in its Chilean operations or "Scotiabank Chile" through acquisition of an additional 7.0% stake from the Said family.

The transaction is valued at approximately C$500 million, and completion of the sale will impact Scotiabank's Common Equity Tier 1 capital ratio by approximately eight basis points.

Upon closing, Scotiabank's ownership in Scotiabank Chile will increase to 83%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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