Scotiabank To Target Latin America

By Editorial 11 April, 2014

Canadian bank Scotiabank plans to target four key Latin American markets as part of its long-term growth strategy. The bank will seek opportunities to build on its existing presence in Peru, Colombia, Mexico, and Chile.

Addressing Scotiabank's 182nd annual meeting, President and CEO Brian Porter noted that, going forward, the bank will focus on longer term prospects and on fewer markets.

"We will drive shareholder value by sharpening our focus on areas that will have the greatest impact on results," he said.

He explained that each of the selected countries has attractive economic fundamentals, disciplined fiscal management, and a strong banking and regulatory system. On that foundation, long-term growth is being driven by a young and educated middle class that increasingly is looking for financial services, he said. Scotiabank noted that the number of Canadian companies doing business in Latin America is growing.

Scotiabank offers personal and commercial banking, wealth management, corporate, and investment banking services to over 21 million customers in more than 55 countries.

Tags: Investment | Business | Chile | Banking | Financial Services | Colombia | Mexico | Canada | Peru | Services | Expats |


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