Scotia snares Citi's Colombian SME ops

Scotia snares Citi's Colombian SME ops

M&A Colombia

Scotiabank has agreed to acquire Citi's consumer and small and medium-sized enterprise operations in Colombia. The Canadian bank and its regional entity Mercantil Colpatria will invest proportionately to maintain their existing ownership levels in Banco Colpatria, a statement from Scotia showed. Scotiabank's common tier one equity capital ratio will be impacted by less than 10bp and the transaction is not considered financially material to Scotiabank. Citi's Colombian operations comprise 47 bran

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