Scotia Buys BNP Wealth Units

Scotia Buys BNP Wealth Units

Panama

Scotiabank is buying the wealth management activities of BNP Paribas in Panama, Grand Cayman, and The Bahamas. The transaction is subject to regulatory approval and is expected to be completed in Q3. Terms of the transaction were not disclosed, and while strategic, the agreement is not financially material to Scotiabank Group, says BNP. “This transaction will make Scotiabank one of the largest wealth management providers in Panama,” it adds. The transaction enables BNP to cease wealth management

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