May 2, 2019 |
Canadian lender offloads Scotia Crecer AFP and Scotia Seguros to Grupo Rizek
Canada's Scotiabank said it has closed the sale of its pension and insurance businesses in the Dominican Republic to the local investor Grupo Rizek.
Scotiabank did not disclose how much it earned from the sale of Scotia Crecer AFP and Scotia Seguros. In December last year, when it announced the sale, it said the deal was "not financially material" and would result in a 10bp increase in the bank's common equity tier one capital ratio.